Dhaka, Bangladesh (BBN)-Bangladesh’s stocks extended their rally for the seventh session in a row as investors continued their buying spree on large-cap stocks amid optimism.
Brokers said the market maintained the upbeat trend having optimistic support of large-cap stocks amid growing confidence of investors, taking the prime index of the premier bourse to fresh 26 months’ high with high turnover.
The market started with a flying note in the morning and the upward momentum persistent till the end of the session with no sign of reversal, ultimately ended 35.69 points higher.
The key index of the DSE advanced 35.69 points, while the Selective Category Index of CSE gained 79.77 points at the closing.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 35.69 points or 0.70 per cent to settle at fresh 26 months’ high at 5,119.59 points, which was the highest level of DSEX since October 30, 2014, when DSEX was 5,173.23 points.
The two other indices also saw significant gain. The DS30, comprising blue chips, rose 19.72 points or 1.08 per cent to close at 1,841.60 points.
The DSE Shariah Index (DSES) jumped 9.15 points or 0.76 percent to close at 1,209.68 points.
Turnover, the important indicator of the market, stood at BDT 14.48 billion, which was nearly 46 per cent higher than the previous day’s turnover of BDT 9.94 billion.
The gainers took a strong lead over the losers as out of 326 issues traded, 190 closed higher, 114 closed lower and 22 remained unchanged on the DSE trading floor.
Bangladesh Building Systems dominated the DSE turnover chart with about 10.29 million shares worth BDT 572 million changing hands, closely followed by DESCO BDT 484 million, Beximco BDT 338 million, Active Fine Chemical BDT 292 million and Singer Bangladesh BDT 254 million.
ICB was the day’s highest gainer, posting a 10 percent rise, while Zeal Bangla Sugar Mills was the worst loser for the second day in a row, losing 9.98 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index – CSCX – gaining 79.77 points to settle at 9,537.75 points.
Gainers beat losers as 147 issues closed higher, 90 closed lower and 28 remained unchanged on the CSE.
The port city bourse traded 29.08 million shares and mutual fund units’ worth over BDT 785 million in turnover.