Dhaka, Bangladesh (BBN) – Bangladesh’s stocks edged higher on Sunday with turnover hitting one month high on the major bourse as optimistic investors took position on sector specific stocks.
Analysts said the optimistic investors remained active on some large-cap stocks amid optimism while some rebalanced their portfolio amid ongoing annual declaration of financial companies, taking the market turnover one month hike.
The market started with a positive note and the key index of the country’s premier bourse rose around 30 points at 1:00pm, but profit booking sale pressure eroded most of the gains, ultimately ended 9.78 points higher.
DSEX advanced 9.78 points while the Selective Category Index of port city bourse added 12.12 points at the closing.
DSEX, the prime index of Dhaka Stock Exchange (DSE), settled the week at 5,635.11, advancing 9.78 points or 0.17 per cent over the previous session.
The two other indices also edged higher.
The DS30, comprising the blue-chips advanced 1.15 points or 0.05 per cent to finish at 2,037.35 points.
The DSE Shariah Index (DSES) gained 2.60 points or 0.19 per cent to finish at 1,312.07 points.
Daily trade turnover on DDSE stood at BDT 13.93 billion, which was 4.50 per cent higher than the previous day’s BDT 13.33 billion.
It was the biggest single-day transaction in one month since January 25, when the turnover totaled a record BDT 15.25 billion.
The losers took a modest lead over the gainers as out of the 328 issues traded, 160 closed lower, 126 closed higher and 42 remained unchanged on the DSE trading floor.
Active Fine Chemicals led the DSE turnover with about 10.69 million shares of BDT 537 million changing hands, followed by Islami Bank, Titas Gas Transmission and Distribution Company, LankaBangla Finance and Baraka Power.
Mercantile Bank was the day’s highest gainer, posting a 10.92 per cent rise following annual dividend declaration while Titas Gas was the worst loser, plunging by 6.76 per cent following the news that distribution margin will remain unchanged.
The port city bourse, the Chittagong Stock Exchange (CSE), also finished marginally higher with its Selective Categories Index – CSCX – advancing 12.12 points to settle at 10,576.28.
Losers beat gainers as 122 issues closed lower, 98 closed higher and 33 remained unchanged on the CSE trading floor.
The port city bourse traded 28.52 million shares and mutual fund units worth BDT 909 million in turnover.