Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to higher on Monday, after a single-day break, as some optimistic investors took position on heavyweight banking sector shares.
Analysts said the market rebounded, despite most of the traded issues closed lower, riding on heavyweight banking and telecommunication stocks.
Share price of 24 banks closed higher, out of 30 listed banks.
On the other hand, Grameenphone, the largest market cap listed company’s share price closed at BDT 468.10, gaining 0.24 percent.
Following the previous day’s marginal correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened positive trend with low trading activities.
After first 15 minutes of trading, the key index of the country’s prime bourse advanced 7.88 points while the CSE All Shares Price Index of port city bourse gained 3.45 points at 10:45am.
After first 30 minutes of trading, the key index of the country’s prime bourse rose 10.82 points while the CSE All Shares Price Index of port city bourse advanced 8.26 points at 11:00am.
After 90 minutes of trading, DSEX rose more than 19 points while the CSE All Shares Price Index gained 64 points at 12noon.
The positive trend sustained till end of the session, finally DSEX closed more than 11 points higher while the CSE All Shares Price Index gained 31 points at closing.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in nearly five years back, settled at 6,224, advancing 11.52 points or 0.18 percent over the previous session.
The two other indices edged higher. The DS30 index, comprising blue chips advanced 5.25 points or 0.23 percent to close at 2,244.
The DSE Shariah Index (DSES) also posted a fractional gain of 0.33 point or 0.02 percent to finish at 1,373.
Turnover, the most important indicator of the market, stood at BDT 4.55 billion, which was nearly 35 percent higher than the previous day’s seven months’ lowest turnover of BDT 3.38 billion.
Losers took a strong lead over the gainers as out of 331 issues traded, 178 closed lower, 99 closed higher and 54 remained unchanged on the DSE trading floor.
Grameenphone topped the day’s turnover chart with 606,454 shares of BDT 284 million changing hands, closely followed by Alif Manufacturing Company, Shahjalal Islami Bank, Square Pharmaceuticals and National Tubes.
National Tubes was the day’s best performer, posting a gain of 5.68 percent while Dulamia Cotton was the day’s worst loser, plunging by 6.81 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse – the Chittagong Stock Exchange – (CSE) also returned to higher with CSE All Shares Price Index of – advancing 31 points to finish at 19,273 points.
The Selective Categories Index of the port city bourse – CSCX – also gained 21 points to settle at 11,645 points.
Losers beat gainers as 120 issues closed lower, 89 closed higher and 28 remained unchanged on the CSE.
The port city bourse traded 7.52 million shares and mutual fund units worth BDT 234 million in turnover.