Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended the gaining streak for the second day in a row on Thursday as some listed companies declared hefty dividend which prompted investors to take fresh stake.
Analysts said the market closed positive amid increasing turnover as optimistic investors took position on selective issues amid ongoing earnings and dividend declaration session.
After crossing the 6,000-mark in the previous day, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid increasing trading activities.
Within first hour of trading, the DSEX advanced nearly 27 points while the Selective Category Index of port city bourse rose 34 points at 11:30am.
The market saw some sale pressure in the mid-session, but last hour bouncy helped DSEX to close more than 16 points higher.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the DSE, which replaced the DGEN in four-and-a-half-year back, settled at 6,018, advancing 16.73 points or 0.28 percent over the previous session.
However, the two other indices closed in the red. The DS30 index, comprising blue chips fell 7.99 points or 0.36 per cent to close at 2,174.
The DSE Shariah Index (DSES) lost 7.41 points or 0.56 percent to finish at 1,316.
Turnover, the most important indicator of the market, stood at BDT 6.63 billion, which was 13.7 percent higher than the previous day’s turnover of BDT 5.83 billion.
Gainers took a modest lead over the losers as out of 330 issues traded, 146 closed higher, 143 closed lower and 41 remained unchanged on the DSE trading floor.
Gemeni Sea Food topped the day’s turnover chart with 323,793 shares of BDT 327 million changing hands, closely followed by Brac Bank, IDLC Finance, LankaBangla Finance and City Bank.
Gemeni Sea Food was also the day’s best performer, posting a gain of nearly 66 percent following its hefty 125 percent stock dividend declaration and business expansion plans.
Zeal Bangla Sugar Mills was the day’s worst loser, plunging by 11.36 percent as the company recommended no dividend for the year ended on June 30, 2017.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also edged higher with its Selective Categories Index – CSCX –advancing 9.15 points to close at 11,240.
Losers beat gainers as 113 issues closed lower, 98 closed higher and 26 remained unchanged on the CSE.
The port city bourse traded 12.83 million shares and mutual fund units worth BDT 450 million in turnover.