Dhaka, Bangladesh (BBN)– Bangladesh’s stocks ended higher on Sunday after recent bearish mood as optimistic investors went on buying spree, especially banking and telecommunication issues.
Market operators said investors became optimistic as the country’s political tension eased somewhat and the premier bourse approved the proposal of Chinese consortium to be a strategic partner of the country’s premier bourse.
The DSE board on Saturday unanimously approved the financial and technical proposals of the consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange to become a strategic partner of the premier bourse, as it offered the highest price coupled with technical support, said a DSE director.
The market opened on higher note and the upbeat trend sustained till end of the session with no sign of reversal, finally ended more than 128 points higher.
DSEX, the core index of the DSE, which replaced the DGEN in five years back, settled at 6,094, after soaring 128 points or 1.15 percent over the previous session.
The two other indices also ended higher. The DS30 index, comprising blue chips, advanced 30 points or 1.36 percent to finish at 2,256.
The DSE Shariah Index (DSES) also rose 1.64 points or 1.64 percent to close at 1,412.
Bullish sentiment also reflected on the turnover activities as total turnover rose to BDT 4.55 billion on the DSE, which was 52 percent higher than the previous session’s one and a half year’s lowest turnover of BDT 3.0 billion.
The gainers took a strong lead over the losers as out of 334 issues traded, 2293 closed higher, 27 closed red and 14 issues remained unchanged on the DSE trading floor.
LankaBangla Finance topped the day’s turnover chart with 5.13 million shares of BDT 220 million changing hands, followed by Anwar Galvanizing with BDT 158 million, Square Pharmaceuticals BDT 156 million, Monno Ceramic Industries BDT 147 million and Mercantile Bank BDT 115 million.
Miracle Industries was the day’s best performer, posting a gain of 9.94 percent while Asia Insurance was the day’s worst loser, plunging by 5.88 percent.
The port city bourse Chittagong Stock Exchange (CSE) also closed higher with CSE All Share Price Index – CAPSI –rising 408 points to finish at 18,836.
The Selective Categories Index – CSCX – also gained 242 points to settle at 11,371.
Gainers beat losers as 226 issues closed higher, 13 lower and 7 remained unchanged on the CSE.
The port city bourse traded 9.11 million shares and mutual fund units worth more than BDT 226 million in turnover.