Dhaka, Bangladesh (BBN) – Bangladesh’s stocks finished slightly higher Sunday amid choppy trading as late hours sell pressure wiped out most of the early gains.
Analysts said the market maintained the positive trend for the five consecutive sessions although the early enthusiasm failed to sustain amid profit booking sell pressure.
The market opened higher and the key index of the premier bourse rose 24 points within first 30 minutes of trading.
Later on investors concentrated on booking short-term profits and index eroded most of its initial gain.
The key index of the country’s prime bourse advanced 4.64 points while the Selective Category Index of port city bourse rose 5.67 points at the closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) finished at 5,676.25, advancing 4.64 points or 0.08 per cent over the previous session.
DSEX added nearly 104 points in the past five consecutive sessions.
The DS30 index, comprising blue chips also advanced 5.39 points or 0.26 per cent to finish at 2,055.03 points.
However, the DSE Shariah Index (DSES) fell 3.37 points or 0.25 per cent to close at 1,308.80 points.
Turnover, the important indicator of the market, also rose to BDT 12.85 billion, which was 8.44 per cent higher than the previous day’s BDT 11.85 billion.
The number of gainers and losers were same as out of 330 issues traded, 145 closed higher, 145 closed lower and 40 remained unchanged on the DSE trading floor.
LankaBangla Finance dominated the DSE turnover chart with about 11.38 million shares worth BDT 693 million changing hands, closely followed by Beximco, Far Chemical Industries, Beximco Pharmaceuticals and Shepherd Industries.
Continental Insurance was the day’s highest gainer, posting 9.88 percent gain, while LankaBangla Finance was the worst loser, losing 11.12 per cent following its price adjustment after record date.
The port city bourse, the Chittagong Stock Exchange (CSE), also finished higher with its Selective Categories Index – CSCX – advancing 5.67 points to settle at 10,659.
Gainers beat losers as 115 issues closed higher, 108 closed lower and 36 remained unchanged on the CSE.
The port city’s bourse traded 26.10 million shares and mutual fund units’ worth more than BDT 786 million in turnover.