Retailers trade at Dhaka Stock Exchange office. BBN file photo

Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the gaining streak on Monday before the national budget as investors continued their buying spree on sector-wise shares.

Stocks kept gaining amid growing confidence of investors ahead of national budget for the (FY) 2019-20, according to market operators.

Finance Minister A H M Mustafa Kamal is set to unveil the national budget for the FY 2019-20 day after tomorrow (Thursday).

Earlier, Mr. Kamal pledged that there would be many incentives for the stock market in the upcoming budget.

The market opened on upbeat note and the positive trend sustained until end of the session amid modest volatility.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,431, gaining 28.62 points or 0.52 per cent over the previous session.

Two other indices also closed higher. The DS30 index, comprising blue chips, advanced 12.63 points to finish at 1,901 and the DSE Shariah Index gained 11.94 points to close at 1,232.

Turnover also rose to one-month high to BDT 4.84 billion, which was 59 per cent higher than the previous session’s turnover of BDT 3.04 billion.

The market kept gaining streak ahead of unveiling the national budget for the FY 2019-20 amidst the investors’ expectations that the upcoming budget would provide some supportive measures for the capital market, they added.

They also said the performance of the blue-chip stocks remained positive as most of the buyers’ attention was concentrated on large-cap issues and also in the block market.

A total number of 119,481 trades were executed in the day’s trading session with trading volume of 131.13 million securities.

The market capitalisation of the DSE rose to BDT 3,990 billion on Monday, from BDT 3,967 billion in the previous session.

The power sector posted the highest gain of 2.04 per cent, followed by food with 1.97 per cent, pharmaceuticals 1.06 per cent and engineering 0.96 per cent.

The non-bank financial institutions witnessed the highest loss of 0.67 per cent, followed by banking with 0.55 per cent and telecommunication 0.23 per cent.

The gainers took a modest lead over the losers as out of 351 issues traded, 210 advanced, 102 declined and 39 issues remained unchanged on the DSE trading floor.

United Power topped the turnover chart with 649,517 shares worth BDT 234 million changing hands.
The other turnover leaders were Khulna Power, BRAC Bank, BATBC and National Life Insurance Company.

Safko Spinning Mills was the day’s best performer, posting a gain of 9.69 per cent while AIBL First Mutual Fund was the worst loser, losing 9.75 per cent.

On the other hand, Chittagong Stock Exchange also ended higher with its CSE All Share Price Index – CASPI -gaining 95 points to settle at 16,614 and the Selective Categories Index – CSCX -advancing 58 points to finish at 10,063.

The gainers beat losers, as 151 closed higher, 67 ended lower and 25 remained unchanged on the CSE trading floor.
The port city bourse traded 23.86 million shares and mutual fund units worth BDT 771 million in turnover.