Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended higher on Wednesday for the six consecutive sessions as optimistic investors took position on sector specific stocks just ahead of Eid vacation.
Analysts said the market maintained the upward trend with activities was strong in the market as pre-Eid sale pressure faded away, while enthusiastic investors remained active on some large-cap stocks.
Only one trading sessions is left before Eid vacation. The trading on the bourses will remain closed for nine days from September 9, including weekly and special holidays.
The market started with an upward note in the morning which sustained till end of the session with no reversal, ultimately closed 26.32 points higher.
The prime index of the Dhaka Stock Exchange (DSE) went up by 26.32 points or 0.58 percent to finish at 4,594.67 points. DSEX added about 71 points in the past six consecutive sessions.
The two other in indices also ended higher. The DS30 comprising blue chips advanced 7.97 points or 0.45 percent to settle at 1,762.28 points.
The DSE Shariah Index (DSES) rose 4.02 point or 0.36 percent to close at 1,110.99 points.
Turnover, the crucial indicator of the market, also improved and the total turnover amounted to BDT 4.98 billion, which was 4.84 percent higher than the previous day’s BDT 4.76 billion.
The gainers took a modest lead over the losers as out of 320 issues traded, 154 closed higher, 120 closed lower and 46 remained unchanged on the DSE trading floor.
Shahjibazar Power Company continued to dominate the DSE turnover chart for five consecutive sessions with shares worth BDT 268 million changing hands, followed by Lafarge Surma Cement, Bangladesh Steel Re-rolling Mills, MJL Bangladesh and Far Chemical Industries.
IFIC Bank was the day’s best performer, posting a rise of 5.46 percent, while Grameen Mutual Fund Two was the worst loser, slumping by 11.61 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished higher with its Selective Categories Index- CSCX – advancing 51.56 points to settle at 8,600.65 points.
Gainers beat losers as 128 issues closed higher, 69 closed lower and 35 remained unchanged on the CSE.
The port city bourse traded 8.79 million shares and mutual fund units worth neatly BDT 270 million in turnover.
BBN/SSR/BB