Dhaka, Bangladesh (BBN)-Bangladesh stocks extended their winning spell for the ninth session in a row on Wednesday as enthusiastic investors continued their buying spree amid growing confidence.
Analysts said the investors continued their buying binge on stocks amid spontaneous participation backed by hopes and excitements, taking the taking the prime index of the DSE to fresh 26 months high.
Maintaining the previous day’s upturn, the market started with an optimistic note, but faced profit booking sell pressure in the mid-session.
However, rest of the session went up steadily, ultimately ended 18.87 points higher.
The key index of the DSE advanced 18.17 points, while the Selective Category Index of port city bourse gained 27.86 points at the closing.
DSEX, the prime index of the DSE, went up by 18.87 points or 0.37 per cent to settle at 5,156.60, which was the highest level of DSEX since October 30, 2014, when DSEX was 5,173.23.
DSEX added about 232 points in the past nine consecutive sessions.
The two other indices also edged higher.
The DS30, comprising blue chips, advanced 3.28 points or 0.17 per cent to close at 1,855.93 points.
The DSE Shariah Index (DSES) rose 5.23 points or 0.43 per cent to close at 1,218.47 points.
Turnover, the most important indicator of the market, remained encouraging and the total turnover stood at BDT 12.09 billion, which was 13 per cent lower than the previous day’s BDT 13.91 billion.
The losers, however, took a slight lead over the gainers as out of 327 issues traded, 146 closed lower, 145 closed higher and 36 remained unchanged on the DSE trading floor.
Argon Denims dominated the DSE turnover chart with about 12.86 million shares worth nearly BDT 447 million changing hands, followed by Beximco BDT 378 million, Bangladesh Building Systems BDT 351 million, GPH Ispat BDT 330 million and DESCO BDT 314 million.
Argon Denims was also the day’s highest gainer, posting a 9.97 per cent rise, while Meghna Pet was the worst loser, slumping 10 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed marginally higher with its Selective Categories Index – CSCX – advancing 27.86 points to settle at 9,599.86.
Gainers beat losers as 122 issues closed higher, 116 closed lower and 21 remained unchanged on the CSE.
The port city bourse traded 26.33 million shares and mutual fund units’ worth over BDT 731 million in turnover.