Dhaka Stock Exchange

BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their gaining streak for the third straight session on Wednesday as optimistic investors continued their buying appetite on some large-cap issues.
Market insiders said the finance minister’s announcement to cut yield rates of savings instruments coupled with the news of possible VAT rate at 12 percent, prompted investors to take position anticipating short-term rally.
The market started with an upbeat note and the positive trend sustained till end of the session with no sign of reversal, finally ended nearly 18 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 5,412.68 points, advancing 17.86 points or 0.33 percent over the previous session.
The two other indices also closed higher. The DS30 index, comprising blue-chips, advanced 11.71 points or 0.58 percent to settle at 2009 points.
The DSE Shariah Index (DSES) gained 5.15 points or 0.41 percent to close at 1264 points.
Turnover, the crucial indicator of the market, also came down to BDT 5.44 billion, which was 13 percent lower than the previous day’s BDT 6.13 billion.
Losers, however, took a modest lead over the gainers, as prices of 143 securities advanced, 129 declined and 52 remained unchanged out of the 324 issues that were traded on the DSE floor.
IFAD Autos dominated the day’s turnover chart with 1.93 million shares of BDT 263 million changing hands, closely followed by Baraka Power BDT 232 million, Paramount Textile BDT 216 million, Beximco BDT 214 and Agni Systems BDT 204 million.
The Peninsula Chittagong was the day’s top gainer, posting 9.66 percent gain while Republic Insurance was the worst lower, losing 11 percent following its price adjustment after record date.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged higher with its Selective Categories Index – CSCX – advancing 19.66 points to settle at 10,147.
Gainers and losers were same as 101 issues closed higher, 101 closed lower and 35 remained unchanged on the CSE trading floor.
The port city bourse traded 12.91 million shares and mutual fund units worth BDT 408 million in turnover.