Retailers trade at Dhaka Stock Exchange office. BBN file photo

Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the gaining streak for the nine consecutive sessions on Wednesday as investors reacted positively to the election results.

Analysts said investors are optimistic about the market riding on political stability and more sound business activities in the coming years as the Bangladesh’s national elections held almost peacefully.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 31.18 points or 0.57 percent to settle at 5,496.

Continuing the previous eight days’ gaining streak, the market started with a positive note, but saw fluctuations in the middle of the session.

The two other indices ended higher. The DS30 index, comprising blue chips, advanced 27.41 points to finish at 1,908 and the DSES (Shariah) index soared 12.98 points to settle at 1,245.

Bullish sentiment also reflected in the trading activities as total turnover amounting to BDT 6.96 billion, which was 31 percent higher than the previous day’s BDT 5.30 billion.

A total number of 175,499 trades were executed in the day’s trading session with trading volume of 198.37 million shares and mutual fund units.

The market-cap of DSE increased to BDT 3,929 billion which was BDT 3,912 billion in the previous day.

The gainers took a strong lead over the losers as out of 345 issues traded, 225 closed higher, 80 ended lower and 40 issues remained unchanged on the DSE trading floor.

BBS Cables continued to dominate the day’s turnover chart with shares worth BDT 305 million changing hands, closely followed by Paramount Textile, IFAD Autos, Saiham Cotton Mills and Beximco.

Quasem Industries was the day’s best performer, posting a gain of 9.89 percent while AIBL First Islamic Mutual Fund was the day’s worst loser, shedding 6.17 percent.

The port city bourse CSE also ended higher with the CSE All Share Price Index – CASPI – soaring 133 points to settle at 16,864 while the Selective Categories Index – CSCX –rising 79 points to finish at 10,194.

Here too, the gainers beat the losers as 181 issues closed higher, 52 ended higher and 26 remained unchanged.

The port city bourse traded 12.30 million shares and mutual fund units worth BDT 303 million in turnover.