BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks rebounded strongly on Monday, after a two-session break, as investors showed their buying appetite on heavyweight bank issues following their healthy quarterly earnings declaration.
Brokers said market closed higher as most of the listed banks showed impressive second quarter (Q2) earnings growth which prompted investors to grab banking shares. Out of 30 listed banks, 29 banks closed green.
The market started with a positive note and upward trend sustained till end of the session with no sign of reversal, finally ended more than 58 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, went up by 58.60 points or 1.01 percent to settle at 5,860, which was the highest level of DSEX since its inception on January 27, 2013.
The country’s prime bourse launched the DSE Broad Index (DSEX) on January 27, 2013 with a base point of 4,055.90, replacing the DSE General Index (DGEN).
However, DGEN, the then key index of the DSE, rose to an all-time high at 8918.51 points on December 5, 2010, when the market was bullish before crash.
Along with core index, the total market capitalisation of the DSE also rose to an all-time high of over BDT 3,961 billion on the day, surpassing the previous high of BDT 3,931 billion recorded on Thursday last.
The two other indices — the DS30 index and the DSE Shariah Index (DSES) — followed the suit to close at 2,144 and 1,315 points, after soaring nearly 16 points and 4.39 points respectively.
Turnover, the important indicator of the market, also rose to BDT 11.66 billion, which was 94 percent higher than the previous day’s BDT 6.02 billion.
The gainers took a strong lead over the losers as 332 issues traded, 179 closed higher, 114 closed lower and 39 remained unchanged on the DSE trading floor.
BBS Cables, which made its shares trading debut on the day, led the turnover chart with about 8.97 million shares of BDT 746 million changing hands, followed by City Bank, LankaBangla Finance, IDLC Finance, and ONE Bank.
Uttara Finance was the day’s highest gainer, posting a 9.91 percent rise, while Jute Spinners was the worst loser, plunging 7.15 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also rebounded strongly with its Selective Categories Index – CSCX – gaining more than 100 points to settle at 10,960 points.
Gainers beat losers as 145 issues closed higher, 82 closed lower and 31 remained unchanged on the CSE.
The port city bourse traded 25.51 million shares and mutual fund units’ worth BDT 908 million in turnover.