Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended higher on Thursday after remaining down in the past two sessions as optimistic investors took position on some large-cap stocks.
Market insiders said the optimistic investors took position on some large-cap stocks while a section of investors remained on profit taking mood, closing the market slightly higher.
The market started with an upward note and in the mid-session saw selling pressure, but late hours buying spree helped the market closing marginally higher.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,701.31 points, advancing 11.99 points or 0.26 percent over the previous session.
The two other indices also closed slightly higher. The DS30 comprising blue chips advanced 7.59 points or 0.43 percent to settle at 1,767.55 points.
The DSE Shariah Index (DSES) gained 1.84 points or 0.16 percent to close at 1123.59 points.
Turnover, the important indicator of the market, however, fell to BDT 4.09 billion, which was 8.90 percent lower than the previous day’s turnover of BDT 4.49 billion.
The gainers took a modest lead over the losers as out of 322 issues traded, 134 closed higher, 130 closed lower and 58 remained unchanged on the DSE trading floor.
Summit Power dominated the DSE turnover chart for the second day in a row with some 7.08 million shares worth nearly BDT 253 million changing hands, followed by Brac Bank BDT 185 million, MJL Bangladesh BDT 178 million, BSRM BDT 125 million and National Housing Finance and Investment BDT 117 million.
Standard Ceramics was the day’s best performer, posting a 9.50 percent gain, while Savar Refractories was the worst loser, slumping by 9.71 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished slightly higher with its Selective Categories Index- CSCX – advancing 13.86 points to settle at 8,787.31 points.
Lowers beat gainers as 93 issues closed lower, 92 closed higher and 43 remained unchanged on the CSE.
The port city bourse traded 7.56 million shares and mutual fund units’ worth over BDT 208 million in turnover.