Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished higher for the second day in a row on Wednesday as optimistic investors took position on sector specific stocks.
Both bourses – the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) finished higher for the two consecutive sessions.
The market opened higher and the upbeat notes persistent till the end of the session amidst improved participation from the investors.
“Stocks confirmed an effort to recovery from its bearish streak riding on the news of substantial increase in net foreign investment in DSE” said International Leasing Securities, a stockbroker in an analysis.
Moreover, investors found share prices of some large-cap stocks are lucrative due to the continuous fall over the last few days, said the stockbroker.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,633.18 points, advancing 36.32 points or 0.79 percent over the previous day.
The two other indices also closed higher. The DS30 comprising blue chips advanced 8.88 points or 0.51 percent to settle at 1,739.91 points. The DSE Shariah Index (DSES) also gained 5.46 points or 0.49 percent to close at 1,108.05 points.
Turnover, the important indicator of the market, also rose to BDT to BDT 4.57 billion, which was 21 percent higher than the previous session’s turnover of BDT 3.77 billion.
The gainers took a strong lead over the gainers as out of 324 issues traded, 218 closed higher, 67 closed lower and 39 remained unchanged on the DSE trading floor.
Brac Bank dominated the DSE turnover chart with some 3.51 million shares worth BDT 214 million changing hands, followed by Doreen Power BDT 174 million, Orion Infusion BDT 135 million, Confidence Cement BDT 132 million and Argon Denim BDT 126 million.
Peninsula Chittagong was the day’s best performer, posting a 9.14 percent gain, while Shympur Sugar Mills was the worst loser, slumping by 8.33 percent.
Among the major sectors based on market capitalization – financial institutions, bank and engineering sectors achieved highest price appreciation while IT and jute sectors witnessed a price correction in the day’s session.
Chittagong Stock Exchange:
The port city bourse, the Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index – CSCX – advancing 47.53 points to settle at 8,655.60 points.
Gainers beat losers as 156 issues closed higher, 57 closed lower and 27 remained unchanged on the CSE.
The port city bourse traded 9.89 million shares and mutual fund units’ worth over BDT 286 million in turnover.