Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended modestly higher for the three consecutive days on Wednesday as investors booked marginal profit later part of the trading session.
After hitting one year high, the market started with a positive note and advanced around 14 points within first 15 minutes of trading, but could not maintained the momentum as risk-averse investors booked some profit on stocks that saw significant gain in the past few days, closing the market slightly higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished one year high at 4,714.05, advancing 5.26 points or 0.11 percent.
Market insiders said the investors continued to keep close eye on earnings declaration by companies and renewed interest of foreign investors in capital market investments amid profit taking tendency.
The DSE Shariah Index (DSES) also saw a fractional gain of 0.70 point or 0.06 percent to close at 1130.07 points.
However, the DS30 comprising blue chips fell 1.07 points or 0.06 percent to settle at 1,783.85 points.
Turnover, the important indicator of the market, however, dropped slightly and the total turnover on the DSE stood at BDT 5.27 billion, which was 6.28 percent lower than the previous day’s turnover of BDT 5.62 billion.
The gainers took a modest lead over the losers as out of 322 issues traded, 148 closed higher, 111 closed lower and 63 remained unchanged on the DSE trading floor.
Singer Bangladesh dominated the DSE turnover chart with shares worth nearly BDT 245 million changing hands, followed by Jamuna Oil Company, MJL Bangladesh, Bangladesh Shipping Corporation and Lafarge Surma Cement.
Standard Ceramics was the day’s best performer, posting a 9.38 percent gain, while Standard Insurance was the worst loser, slumping by 6.25 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished slightly higher with its Selective Categories Index- CSCX – advancing 12.67 points to settle at 8,822.33 points.
Gainers beat losers as 126 issues closed higher, 86 closed lower and 38 remained unchanged on the CSE.
The port city bourse traded 11.35 million shares and mutual fund units’ worth over BDT 384 million in turnover.