Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished higher for the two consecutive sessions on Sunday with low participation of investors as many investors remained followed cautious stance ahead of monetary policy announcement.
Analysts said although the market ended positive note, many investors remained followed “wait-and-see” strategy ahead monetary policy statement (MPS) and earnings declaration of listed companies.
The market opened on positive note and key index of the major bourse gaining more than 34 points within first hour of trading, but rest of the session saw some sale pressure, finally ended nearly 25 points higher.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in five years back, settled at 6,147, advancing 24.96 points or 0.41 percent over the previous day.
The two other indices also ended higher. The DS30 index, comprising blue chips, soared 19.46 points or 0.86 percent to finish at 2,260.
The DSE Shariah Index (DSES) also gained 6.09 points or 0.43 percent to settle at 1,410.
The market activities, however, remained below BDT 4.0 billion-mark and the total turnover amounting to BDT 3.44 billion, which was 4.18 percent lower than the previous day’s turnover of BDT 3.59 billion.
The gainers took a modest lead over the losers as out of 335 issues traded, 168 closed higher, 113 lower and 54 issues remained unchanged on the DSE trading floor.
Square Pharmaceuticals topped the day’s turnover chart for the second day in a row with 877,004 shares of BDT 283 million changing hands, followed by IFAD Autos, National Bank, Grameenphone and Golden Harvest Agro Industries.
Eastern Cables was the day’s best performer, posting a gain of 6.76 percent while Meghna Condensed Milk was the day’s worst loser, plunging by 4.56 percent.
The port city bourse Chittagong Stock Exchange (CSE) also ended higher with CSE All Share Price Index – CAPSI – advancing 86 points to finish at 18,955.
The Selective Categories Index – CSCX – also gained 50 points to settle at 11,441.
Gainers beat losers as 111 issues closed higher, 87 lower and 37 issues remained unchanged on the CSE.
The port city bourse traded 6.86 million shares and mutual fund units worth more than BDT 176 million in turnover.