Bangladesh’s stocks extend winning streak for fifth day

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended winning streak for fifth day in a row on Wednesday with key index of the major bourse hitting record high.

Analysts said the market maintained the upward trend as investors continued their buying appetite, especially banking issues, taking the key index record high.

Meanwhile, only one trading session is left before the start of the Eid-ul-Azha vacation.

Trading on the bourses is scheduled to remain closed from September 1, in line with the government holidays.

Investors continued to take position on banking issues anticipating market buoyancy in pre-Eid sessions.

After closing almost flat in the previous day, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened positive amid slow movement.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced 0.42 points while the Selective Category Index of port city bourse rose nearly 7.0 points at 10:15am.

After first 30 minutes of trading, DSEX rose 2.70 points while the Selective Category Index of port city bourse advanced 19 points at 11:00am.

After 90 minutes of trading, DSEX, the prime index of the DSE advanced nearly 14 points, while the Selective Category Index of port city bourse rose 8.0 points at 12noon.

After that the key index of the major bourse went up steadily, finally ended more than 25 points higher.

DHAKA STOCK EXCHANGE:

DSEX, the benchmark index of the DSE, which replaced the DGEN in four-and-a-half-year back, continued to hold its positive momentum, adding 25.44 points more to settle at a historical high of 5,974 points, which was the highest level of DSEX since its inception on January 27, 2013.

Along with core index, the total market capitalisation of the DSE also rose to a record high to BDT 4,007 billion, surpassing the previous high of BDT 3,999 billion recorded on the previous day.

The two other indices – the DS30 index and the DSE Shariah Index (DSES) – followed the suit to close at 2,127 and 1,319 points, after gaining 1.68 points and 3.38 points respectively.

Turnover, the important indicator of the market, came down to BDT 8.04 billion, which was 13 percent lower than the previous day’s BDT 9.25 billion.

Gainers outpaced losers as out of 329 issues traded, 142 gained, 136 declined and 51 remained unchanged on the DSE trading floor.

LankaBangla Finance led the DSE turnover chart with about 7.36 million shares worth BDT 435 million changing hands, followed by AB Bank, IFIC Bank, Al-Atrafa Islami Bank and Bangladesh Building Systems.

CMC Kamal was the day’s highest gainer, posting 6.45 percent gain while First Finance was the worst loser – shedding 7.25 percent.

CHITTAGONG STOCK EXCHANGE:

The port city bourse – Chittagong Stock Exchange (CSE), also finished higher with its Selective Categories Index – CSCX – advancing more than 50 points to settle at 11,207.

Gainers beat losers as 123 issues closed higher, 100 lower and 28 remained unchanged on the CSE.

The port city bourse traded 22.77 million shares and mutual fund units worth more than BDT 634 million in turnover.

BBN/SS/ANS