Dhaka, Bangladesh (BBN) – Bangladesh’s stocks backed to higher on Tuesday, snapping the seven-day losing streak, as investors showed their buying appetite on large-cap stocks.
Analysts said the market returned to green as investors are taking position in fundamentally strong issues like Grameenphone (GP) and Square Pharmaceuticals which helped the index to closed higher.
Following the previous seven days’ sharp fall of 328 points, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive trend amid low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 28 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 44 points at 10:45am.
After 30 minutes of trading, the DSEX gained more than 15 points while the CSE All Share Price Index (CASPI) of port city’s bourse advanced 68 points at 11:00am.
After 90 minutes of trading, DSEX advanced more than 41 points while the CSE All Shares Price Index advanced 119 points at 12noon.
But, rest of the session eroded most of the early gain finally DSEX ended more than 23 points higher while CASPI gained 106 points at closing.
DHAKA STOCK EXCHANGE:
DSEX, prime index of Dhaka Stock Exchange (DSE), settled at 5,798, advancing 23.85 points or 0.41 percent after losing 328 points in the past seven sessions.
Two other indices of the premier bourse also ended higher.
The DS30 index, comprising blue chips, advanced 14 points or 0.66 percent to finish at 2,141 and DSES (Shariah) gained 7.48 points or 0.55 percent to close at 1,256.
However, trading activities remained low as total turnover on the DSE amounting to BDT 3.22 billion, which was 8.26 percent lower than the previous day’s BDT 3.51 billion.
The gainers took a modest lead over the losers as out of 334 issues traded, 168 closed higher, 106 closed lower and 60 remained unchanged on the DSE trading floor.
Olympic Industries continued to top the DSE turnover chart with shares worth BDT 175 million changing hands, closely followed by Grameenphone, Square Pharmaceuticals, Unique Hotel & Resorts, Al-Arafah Islami Bank.
CHITTAGONG STOCK EXCHANGE:
Port city bourse CSE also returned to higher with its CSE All Share Price Index – CAPSI – advancing 106 points to settle at 17,955 and selective Categories Index – CSCX – gaining 63 points to finish at 10,836.
Here too, the gainers beat the losers as 110 issues closed higher, 63 lower and 34 remained unchanged on the CSE.
The port city bourse traded 5.10 million shares and mutual fund units worth more than BDT 154 million in turnover.