Dhaka, Bangladesh (BBN) – Bangladesh’s stocks rebounded on Tuesday, snapping the four days’ downturn, as some optimistic investors showed their buying appetite on banking stocks.
Analysts said the market returned to positive trend having optimistic support of heavyweight banking and some large-cap stocks, especially Square Pharmaceuticals.
However, turnover, the crucial indicator of the market, fell 9.57 percent and amounted to BDT 4.44 billion on the major bourse, from previous day’s BDT 4.91 billion.
The banking sector earned positive return following its recent price correction with seven banks among top 10 gainers.
The market started the day with positive movement and maintained stable position throughout the day with no sign of reversal, finally ended nearly 55 points higher.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 6,251.75, after advancing 54.94 points or 0.88 percent over the previous day.
The two other indices also ended higher. The DS30 index comprising blue chips also advanced 11.14 points or 0.49 per cent to close at 2,257.
The Shariah Index (DSES) rose 3.71 points or 0.26 percent to finish at 1,379.
The gainers took a modest lead over the losers as out of 335 issues traded, 152 closed higher, 141 closed lower and 42 remained unchanged on the DSE trading floor.
Square Pharmaceuticals topped the turnover chart with shares of nearly BDT 177 million changing hands, followed by Grameenphone, Brac Bank, Shahjalal Islami Bank and City Bank.
Prime Bank emerged as the day’s top gainer, posting a gain of 7.25 percent while Imam Button was the day’s worst loser, plunging by 4.30 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also returned to higher with CSE All Shares Price Index (CAPSI), advancing 174 points to close at 19,352.
The Selective Categories Index – CSCX – also rose 106 points to finish at 11,702.
Losers beat gainers as 102 issues closed lower, 100 closed higher and 28 remained unchanged on the CSE.
The port city bourse traded 10.04 million shares and mutual fund units worth more than BDT 300 million in turnover.