Dhaka, Bangladesh (BBN) – Bangladesh’s stocks edged higher for the third running session on Thursday as investors went on buying spree.
Both the Dhaka Stock Exchange (DSE), the prime bourse of Bangladesh, and Chittagong Stock Exchange (CSE), the port city bourse of the country, opened with a positive note and continued the upturn till end of the session amid modest volatility.
“Earnings declaration remained positive as major market trigger in near terms,” said LankaBangla Securities.
Engineering sector saw 4.84 percent and became the top gainer due to impressive annual corporate disclosures of BSRM Limited and BSRM Steels, which gained 25.7 percent and 8.1 percent respectively.
All major sectors saw mixed performance with improved participation; while benchmark index creeping up towards 4,600-level, it said.
The key index of DSE gained 7.92 points and the Selective Category Index of port city bourse CSE earned 20.11 points at the closing.
The benchmark index of the Dhaka Stock Exchange (DSE) settled at 4,581.34 points, after advancing 7.92 points or 0.17 percent.
The DS30 index, comprising blue chips, gained 10.22 points or 0.58 percent to end at 1,759.58 points.
The DSE Shariah Index (DSES) rose 5.0 points or 0.45 percent to finish at 1,118.86 points.
The market turnover value crossed The 5.0 billion-mark after six sessions with a total turnover stood at BDT 5.05 billion, which was 39.5 percent higher than the previous day’s BDT 3.62 billion.
The losers, however, took a modest lead over the gainers as out of 320 traded issues, 177 closed lower, 104 higher and 39 remained unchanged on the DSE trading floor.
BSRM Limited dominated the turnover chart with shares worth nearly BDT 566 million changing hands followed by Beximco Pharma, United Power Generation & Distribution Company, BSRM Steels and Al-Haj Textile.
BSRM Limited was the day’s best performer, posting a rise of 25.68 percent while Libra Infusion was the worst loser, plunging 7.48 percent.
Among the major sectors, engineering sector witnessed the highest return of 4.84 percent followed by food and allied 0.48 percent, pharma 0.38 percent and power 0.03 percent.
Telecommunication sector was the top loser, losing 0.92 percent followed by banks 0.87 percent and NBFIs lost 0.74 percent.
The port city bourse Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index- CSCX- advancing 20.11 points to end at 8,590.10 points.
Losers beat gainers 125 to 81, with 41 issues remaining unchanged on the port city bourse that traded 9.12 million shares and mutual fund units with a value of BDT 315.4 million.