BBN file photo
Dhaka, Bangladesh (BBN)-Bangladesh’s stocks posted a marginal gain on Wednesday, snapping a four-day losing streak, as some investors went to take positions in low-priced securities.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), settle at 4,512, advancing 5.45 points or 0.12 per cent, after losing 196 points in four sessions.
Two other indices also ended slightly higher. The DS30 index, comprising blue chips, advanced 3.77 points to finish at 1,552 and the DSE Shariah Index rose 5.16 points to close at 1,017.
The higher-than-expected GDP growth news coupled with lucrative price level of fundamentally sound stocks attracted bargain hunters, taking the market in the green zone, according to market operators.
Bangladesh’s gross domestic product ultimately grew at a record 8.15 per cent in fiscal 2018-19 – a slight 0.02-percentage point higher from a provisional estimation.
The optimistic investors were active on sector specific issues in pharma, power, engineering, financial institutions and banking sectors issues as their shares become lucrative following the recent correction, they explained.
Turnover, a crucial indicator of the market, however, rose to BDT 2.94 billion, which was 3.60 per cent lower over the previous day’s turnover of BDT 3.05 billion.
On the other hand, the Chittagong Stock Exchange also edged up with its All Shares Price Index (CASPI)—advancing 36 points to close at 13,720 and the Selective Categories Index – CSCX –gaining 22 points to finish at 8,324.
The losers beat gainers, as 105 issues closed lower, 91 ended higher and 36 remained unchanged on the CSE.
The port city bourse traded 7.99 million shares and mutual fund units worth BDT 237 million in turnover.
BBN/SSR/AD
