Dhaka, Bangladesh (BBN)– Bangladesh’s stocks finished higher on Thursday, with key index of the premier bourse crossing the 4,600-mark after seven months, as optimistic investors took position, especially on financial stocks, just ahead of Eid vacation.
Analysts said the market maintained the upward trend just ahead of Eid-ul-Azha vacation as enthusiastic investors remained active on some large-cap stocks, taking the benchmark to more than seven months high.
The trading on the bourses will remain closed for nine days from September 9 to September 17, including weekly holidays and special holidays.
The market started with an upward note in the morning which sustained throughout the session amid last minutes slight fall, ultimately closed 6.41 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 6.41 points or 0.14 percent to finish at 4,601.08 points, which was more than seven months high level of DSEX since January 27.
The two other in indices, however saw marginal correction. The DS30 comprising blue chips fell 2.62 points or 0.15 percent to settle at 1,759.66 points.
The DSE Shariah Index (DSES) lost 2.34 points or 0.21 percent to close at 1,108.66 points.
Turnover, the crucial indicator of the market, also fell slightly and the total turnover amounted to BDT 4.81 billion, which was 3.41 percent lower than the previous day’s BDT 4.98 billion.
The losers took a modest lead over the gainers as out of 322 issues traded, 143 closed lower, 121 closed higher and 58 remained unchanged on the DSE trading floor.
Lafarge Surma Cement dominated the DSE turnover chart with 4.06 million shares worth BDT 327 million changing hands, followed by Shahjibazar Power Company, Islami Bank, United Power and Trust Bank.
SEML Lecture Equity Management Fund was the day’s best performer, posting a rise of 9.68 percent, while Gemeni Sea Food was the worst loser, slumping by 28.34 percent following its price adjustment after record date.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished slightly higher with its Selective Categories Index- CSCX – advancing 16.55 points to settle at 8,617.19 points.
Losers beat gainers as 116 issues closed lower, 94 closed higher and 30 remained unchanged on the CSE.
The port city bourse traded 9.02 million shares and mutual fund units worth over BDT 277 million in turnover.