Dhaka, Bangladesh (BBN) – Bangladesh’s stocks rebounded strongly on Thursday as optimistic investors went on buying spree, especially banking sector issues amid dividend expectation.
Analysts said the market rebounded after two days slow trend as investors showed their buying appetite on large-cap sectors, especially banking sector issues ahead of dividend declarations.
Following the previous two days’ marginal gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher in the morning.
The upward trend continued till end of the session as investors went on buying spree on banking sector issues, finally key index of the major bourse ended more than 65 points higher while CSE All Share Price Index (CASPI) gained 172 points at closing.
DHAKA STOCK EXCHANGE:
DSEX, the core index of the DSE, which replaced the DGEN in five years back, settled at 5,870.83, gaining 65.89 points or 1.13 percent over the previous session.
The two other indices also ended higher. The DS30 index, comprising blue chips, advanced 22.58 points or 1.05 percent to finish at 2,169.
The DSE Shariah Index (DSES) rose 11.40 points or 0.84 percent to close at 1,372.
The market activities also rose and the total turnover on the DSE amounting to BDT 4.22 billion, which was 8.48 percent higher than the previous day’s BDT 3.89 billion.
The gainers took a strong lead over the losers as out of 334 issues traded, 250 closed higher, 50 closed red and 34 issues remained unchanged on the DSE trading floor.
Monno Ceramic Industries topped the day’s turnover chart with shares worth BDT 120 million changing hands, followed by IFAD Autos, City Bank, Square Pharmaceuticals and Alif Industries.
BD Lamps was the day’s best performer, posting a gain of 8.47 percent while LR Global Mutual Fund One was the day’s worst loser, shedding 3.65 percent.
CHITTAGONG STOCK EXCHANGE:
Port city bourse CSE also ended higher with its CSE All Share Price Index – CASPI – gaining 152 points to settle at 18,079 and selective Categories Index – CSCX – rising 93 points to finish at 10,911 points.
Here too, the gainers beat the losers as 148 issues closed higher, 53 loser and 23 remained unchanged on the CSE.
The port city bourse traded 5.74 million shares and mutual fund units worth more than BDT 154 million in turnover.