Dhaka, Bangladesh (BBN) – Bangladesh’s stocks rebounded on Tuesday, a day-after steep fall, as optimistic investors showed their buying appetite on banking issues once again.
Brokers said the market rebounded negative sentiments dampened by Bangladesh Bank’s action on seven banks eased somewhat.
Bangladesh Bank fined seven banks for violating securities rules on share investment which created a panic among investors.
As a result, DSEX plunged 1.23 percent on Monday, the biggest single-day fall in five months.
Following the previous day’s sharp decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower amid low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell more than 33 points while the Selective Category Index of port city bourse lost 56 points at 10:45am.
However, rest of the session, it recovered all the early losses and finally key index closed nearly 13 points up.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the DSE, which replaced the DGEN in four-and-a-half-year back, settled at 6,142 points, after advancing 12.92 points or 0.21 percent over the previous session.
The DS30 index, comprising blue chips also advanced 7.34 points or 0.33 percent to finish at 2,207.
However, the DSE Shariah Index (DSES) fell 1.46 points or 0.10 percent to close at 1,348.
However, the trading activities fell to BDT 7.65 billion, which was nearly 21 percent lower than the previous day’s BDT 9.67 billion.
Losers took a strong lead over the gainers as out of 331 issues traded, 188 closed lower, 106 higher and 37 remained unchanged on the DSE trading floor.
Brac Bank topped the day’s turnover chart with 4.86 million shares of BDT 446 million changing hands, closely followed by LankaBangla Finance, Exim Bank, Uttara Bank and Shahjalal Islami Bank.
Brac Bank was also the day’s best performer, posting a gain of 9.75 percent while neatly listed ICB AMCL First Agrani Bank Mutual Fund was the day’s worst loser, plunging by 6.97 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also returned to higher with its Selective Categories Index – CSCX – advancing 20 points to close at 11,543.
Losers beat gainers as 140 issues closed lower, 82 closed higher and 24 remained unchanged on the CSE.
The port city bourse traded 18.42 million shares and mutual fund units worth BDT 494 million in turnover.