Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed a marginal gain on Wednesday, breaking eight days losing spell, as some investors went on late hour buying spree amid countrywide shutdown enforced by Jamaat-e-Islami.
Market insiders said through the market managed to close in green zone, turnover fell drastically as most of the investors remained followed cautious stance ahead of Eid festival. Only six trading are left Eid-ul-Azha vacation.
The market started with a mixed trend and went down around 13 points after first hour of trading, but bargain hunter became active rest of the session, ultimately ended slightly higher.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 4,526.58, advancing 2.92 points or 0.06 percent, after losing about 73 points in the past eight consecutive sessions.
The DS30 index, comprising blue chips, also saw a fractional gain of 0.58 point or 0.03 percent to settle at 1,735.36 points.
However, the DSE Shariah Index (DSES) lost 1.17 points or 0.11 percent to close at 1,097.48 points.
Turnover, the important indicator of the market, fell to two weeks low to BDT 4.09 billion, which was 30 percent higher than the previous day’s BDT 5.31 billion.
The gainers took a modest lead over the losers as out of 311 issues traded, 133 closed higher, 115 closed lower and 63 remained unchanged on the DSE trading floor.
Olympic Industries dominated the turnover chart with shares worth nearly BDT 240 million changing hands, followed by Shahjibazar Power Company, Square Pharmaceuticals, National Tubes and Delta Brac Housing Finance Corporation.
Agrani Insurance was the day’s best performer, posting a rise of 9.77 percent, while Shaympur Sugar Mills was the worst loser, plunging by 9.52 percent.
However, the port city bourse Chittagong Stock Exchange (CSE) closed in the red with its Selective Categories Index- CSCX –losing 1.79 points to finish at 8,461.70 points.
Gainers beat losers 101 to 96, with 47 issues remaining unchanged on the port city bourse that traded nearly 7.01 million shares and mutual fund units with a value of above BDT 221 million.