Dhaka, Bangladesh (BBN)-Bangladesh’s stocks extended their winning spell for the three consecutive sessions on Thursday as the investors remained active on sector specific stocks amid optimism.
Brokers said the favorable macro-economic indicators as well as recent positive trend of the capital market continued to attract the investors to take position on sector specific stocks.
The market stared with an upward note and the key index of the premier bourse rose around 30 points within first 30 minutes of trading and mid-session saw some sale pressure, but last hour buying spree helped the market remained vibrant.
By the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 25.98 points or 0.55 percent to settle at 4,791.33 points, which was the highest level of DSEX since October 7 last year, when DSEX was 4,800.62.
The two other indices also closed higher. The DS30 comprising blue chips advanced 5.46 points or 0.31 per cent to settle at 1,769.53 points.
The DSE Shariah Index (DSES) also gained 4.07 points or 0.36 percent to close at 1,133.27 points.
“The market continued to see strong buying interest as promising market fundamentals and cues of institutional buying promoted investors to hold on buying spree,” said an analyst.
After recording five years’ high, the total turnover on the DSE came down to BDT 6.58 billion, which was 55 percent lower than the previous day’s BDT 14.78 billion as unusual block trade wiped out.
The gainers took a modest lead over the losers as out of 319 issues traded, 173 closed higher, 120 closed lower and 26 remained unchanged on the DSE trading floor.
Doreen Power Generations and Distributions dominated the DSE turnover chart with 2.26 million shares worth BDT 271 million changing hands, followed by Beximco BDT 233 million, Generation Next Fashion BDT 182 million, Bangladesh Building Systems BDT 171 million and City Bank BDT 153 million.
Grameen One: Scheme Two Mutual Fund was the day’s best performer, posting a gain of 9.62 percent, while Bangladesh Building Systems was the worst loser, slumping by 7.56 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), ended higher with its Selective Categories Index- CSCX – advancing 32.89 points to settle at 8,962.29 points.
Gainers beat losers as 139 issues closed higher, 89 closed lower and 22 remained unchanged on the CSE.
The port city bourse traded 21.44 million shares and mutual fund units’ worth nearly BDT 429 million in turnover.