Bangladesh’s stocks edge up for second day

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks edged higher for the second day in a row on Tuesday as some optimistic investors took position on sector-wise stocks amid dividend expectation.

Analysts said the market extended the gaining spell as some investors continued their buying appetite on sector-specific shares amid positive earnings and dividend declaration ahead.

Following the previous day’s marginal gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened positive amid increasing participation of investors.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced nearly 11 points while the Selective Category Index of port city bourse gained 16 points at 10:45am.

But, the market lost all the initial gains in the mid-session. However, last hour’s buying pressure, helped the major bourse’s key index to close nearly 18 points higher.

DHAKA STOCK EXCHANGE:

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, finished at 6,032, advancing 17.89 points or 0.29 percent over the previous session.

The DSE Shariah Index (DSES) also advanced 6.90 points or 0.52 percent to finish at 1,326.

However, the DS30 index, comprising blue chips fell 7.23 points or 0.33 percent to close at 2,182 points.

Turnover, the most important indicator of the market, stood at BDT 6.15 billion, which was 22 percent higher than the previous day’s turnover of BDT 5.03 billion.

A total number of 0.165 million trades were executed in the day’s trading session with trading volume of 165.13 million securities.

The total market capitalisation of the DSE stood at BDT 4,058 billion which was BDT 4,054 billion in the previous trading session.

Gainers took a strong lead over the losers as out of 331 issues traded, 223 closed higher, 84 closed lower and 24 remained unchanged on the DSE trading floor.

IFAD Autos topped the day’s turnover chart with 2.11 million shares of BDT 337 million changing hands, closely followed by Uttara Bank, Aamra Networks, Brac Bank, and Square Pharmaceuticals.

Fortune Shoes was the day’s best performer, posting a gain of 9.95 percent while Padma Life Insurance was the day’s worst loser, plunging by 16.17 percent following its price adjustment after record date.

CHITTAGONG STOCK EXCHANGE:

The port city bourse Chittagong Stock Exchange (CSE) also edged higher with its Selective Categories Index – CSCX –advancing 30 points to close at 11,317.

Gainers beat losers as 157 issues closed higher, 65 closed lower and 12 remained unchanged on the CSE.

The port city bourse traded 15.34 million shares and mutual fund units worth BDT 406 million in turnover.

BBN/SS/AD