Dhaka, Bangladesh (BBN) – Bangladesh’s stocks rebounded on Tuesday, after a single-session break, as some investors went on last moment buying spree, particularly Grameenphone (GP) shares.
Market insiders said riding on the news of uniform call rate for all the mobile phone operators for establishing a level playing field, investors took position in market’s largest-cap stock GP, which spurred the bourse to nudge higher.
Meanwhile, trading on the bourses will remained closed tomorrow (Wednesday) due to National Mourning Day and only three trading sessions are left before Eid holidays.
The market opened on positive note and mid-session saw some volatility.
But last 30 minutes’ strong buying pressure helped the core index of the DSE to close more than 29 points higher.
On the other hand, the All Share Price Index of the port city bourse closed marginally higher advancing 46 points.
DHAKA STOCK EXCHANGE
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.72 points or 0.55 percent to settle at 5,408.
The two other indices ended higher. The DS30 index, comprising blue chips, advanced 16.47 points to finish at 1,901 points and the DSE Shariah Index surged 14.43 points to close at 1,242.
However, trading activities fell to BDT 5.80 billion, which was 10 percent lower than the previous day’s BDT 6.48 billion.
“Trading activities fell below BDT 6.0 billion-mark as a section of investors refrained themselves from investing ahead of Eid-ul-Azha,” said a stockbroker.
Of the 335 issues traded on the DSE trading floor, 158 ended higher, 130 closed lower and 47 issues remained unchanged on the DSE trading floor.
A total number of 127,881 trades were executed in the day’s trading session with trading volume of 172.22 million securities.
The market capitalisation of the DSE stood at BDT 3,842 billion on the day which was BDT 3,816 billion in the previous session.
BBS Cables continued to top the turnover chart with 2.23 million shares worth BDT 275 million changing hands, closely followed by IFAD Autos, Hamid Fabrics, Shepherd Industries and Active Fine Chemicals.
Provati Insurance was the day’s best performer, posting a gain of 9.80 percent while Padma Life Insurance was the worst performer, losing 16.42 percent following the news of its no divided declaration.
CHITTAGONG STOCK EXCHANGE
The port city bourse CSE also closed marginally higher with its CSE All Share Price Index – CASPI – advancing 46 points to settle at 16,584 and the Selective Categories Index – CSCX – gaining 31 points to finish at 10,045.
The gainers beat losers as 114 issues closed higher, 100 ended lower, with 21 issues remained unchanged on the CSE.
The port city bourse traded 8.48 million shares and mutual fund units worth nearly BDT 230 million in turnover.