Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished higher for the fourth session in a row on Monday as pre-Eid sale pressure faded away.
The recent corrections also encouraged investors to take position on some large-cap stocks.
Only three trading sessions are left before Eid-ul-Azha vacation, as trading on the bourses will remain closed from September 9.
The market started with a positive note and the key index of the premier bourse gaining about 15 points within first 50 minutes of trading, but failed to sustain that level, ultimately closed only 6.26 points higher.
By the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,563.69, advancing 6.26 points or 0.14 percent over the previous session.
The two other in indices also edged higher. The DS30 comprising blue chips advanced 3.66 points or 0.21 percent to settle at 1,751.55 points.
The DSE Shariah Index (DSES) also gained 2.56 points or 0.23 percent to close at 1,106.56 points.
Turnover, the crucial indicator of the market, however, came down to BDT 4.25 billion, which was 12 percent lower than the previous day’s BDT 4.81 billion.
The losers took a modest lead over the gainers as out of 321 issues traded, 147 closed lower, 125 closed higher and 49 remained unchanged on the DSE trading floor.
Shahjibazar Power Company dominated the DSE turnover chart for the three consecutive sessions with shares worth nearly BDT 272 million changing hands, followed by Singer Bangladesh, Islami Bank, Doreen Power Generations and Systems and Lafarge Surma Cement.
Pragati Insurance was the day’s best performer, posting a rise of 7.98 percent, while SEML Lecture Equity Management Fund was the worst loser, slumping by 7.27 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished higher with its Selective Categories Index- CSCX –gaining 22.56 points to settle at 8,535.35 points.
Gainers beat losers as 106 issues closed higher, 103 closed lower and 34 remained unchanged on the CSE.
The port city bourse traded 9.09 million shares and mutual fund units worth neatly BDT 285 million in turnover.