Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to higher on Tuesday, after single-session mild correction, as investors took position on lucrative stocks amid optimism.
Analysts said the market rebounded as some enthusiastic investors went on buying spree, especially on bank issues.
“However, this enthusiasm was not vivid among all the market participants as reflected in the downturn in daily turnover,” said an analyst at a leading brokerage firm.
Trading activities declined to BDT 9.65 billion, which was 3.50 per cent lower than the previous day’s BDT 10 billion.
The market started with an upward trend and the positive trend continued till end of the session amid periodic small downswings, ultimately ended 21.53 points higher.
DSEX went up by 21.53 points while the Selective Category Index of port city bourse advanced 37.83 points at the closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 21.53 points or 0.38 per cent to settle at 5,681.25 points, after losing about 16.54 points in the previous session.
The two other indices also edged higher.
The DS30 index, comprising blue chips saw a fractional gain of 0.26 point or 0.01 per cent to finish at 2043.65.
The DSE Shariah Index (DSES) advanced 2.39 points or 0.18 per cent to close at 1,309.66 points.
The losers, however, took a modest lead over the gainer as out of 326 issues traded, 150 closed lower, 140 closed higher and 36 remained unchanged.
IFIC Bank dominated the turnover chart with 11.51 million shares of BDT 313 million changing hands, closely followed by LankaBangla Finance, Active Fine Chemicals, Beximco and First Security Islami Bank.
IFIC Bank was the day’s highest gainer, posting a gain of 5.72 percent while IPDC Finance was the day’s worst loser, losing 22 per cent following its price adjustment after record date.
The port city bourse, the Chittagong Stock Exchange (CSE), also finished higher with its Selective Categories Index – CSCX – advancing 37.83 points to settle at 10,677.
Losers beat gainers as 117 issues closed lower, 114 closed higher and 21 remained unchanged on the CSE.
The port city bourse traded 28.43 million shares and mutual fund units’ worth BDT 671 million in turnover.