Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their gaining streak for the second day in a row on Wednesday as investors showed their buying appetite on banking stocks.
Analysts said the investors continued their buying spree on banks stocks as prices of many bank issues came down to lucrative level.
“This upward shift in the index is mainly driven by significant positive changes in the large-cap sectors like banking stocks,” said a leading broker.
The market opened on positive note and the upward trend continued till end of the session with modest volatility in the mid-session.
DHAKA STOCK EXCHANGE
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,5,05, advancing 32.45 points or 0.59 percent over the previous day.
The DS30 index, comprising blue chips, advanced 6.11 points to end at 1,911 points.
However, the DSE Shariah Index saw fractional loss of 0.95 point to close at 1,261 points.
Turnover, the most important indicator of the market, also rose to BDT 8.24 billion, which was 13 percent higher than the previous session’s BDT 7.31 billion.
Of the 336 issues traded, 157 closed higher, 132 lower and 47 issues remained unchanged on the DSE trading floor.
A total number of 159,179 trades were executed in the day’s trading session with trading volume of 197.81 million securities.
The market capitalisation of the DSE stood at BDT 3,917 billion on the day which was BDT 3,907 billion in the previous session.
Khulna Power Company topped the turnover chart for the fourth straight day with 6.08 shares worth BDT 818 million changing hands.
The other turnover leaders were Intech, Active Fine Chemicals, National Housing Finance and Paramount Textile.
Janata Insurance was the best performer, posting a gain of 10 percent while newly listed ML Dyeing was the worst loser, losing 7.96 percent.
CHITTAGONG STOCK EXCHANGE
The Chittagong Stock Exchange (CSE) also finished higher with its CSE All Share Price Index – CASPI – advancing 115 points to settle at 16,946 and the Selective Categories Index – CSCX – gaining 67 points to finish at 10,265.
The gainers beat losers as 132 issues closed higher, 88 ended lower and 32 issues remained unchanged on the CSE.
The port city’s bourse traded 10.85 million shares and mutual fund units worth BDT 316 million in turnover.