Dhaka, Bangladesh (BBN)-Bangladesh Stocks closed higher on Monday with improving turnover as investors optimistic about the market outlook following the central bank’s move related to banks investment in stocks.
The Bangladesh Bank (BB) on Sunday issued a circular, relaxing the rules related to banks investment in the stock market.
From January, banks’ capital given to their stock market subsidiaries will not be counted as capital market exposure.
Following the news, the investors became hopeful and went on buying spree very beginning of the day’s session.
At the end of the session, the prime index of the Dhaka Stock Exchange (DSE) rose 67.33 points or 1.49 per cent to end at 4,578.87.
The DS30 index, comprising blue chips, rose 19.47 points, 1.13 per cent to finish at 1,734.11.
The DSE Shariah Index (DSES) advanced 12.22 points or 1.12 per cent to end at 1,101.19.
DSE turnover crossed BDT 4.0 billion-mark and amounted to BDT 4.88 billion, which was 40.6 per cent higher than the previous session’s BDT 3.47 billion.
The gainers took a strong lead over the losers as out of 320 traded issues, 247 closed higher, 51 lower and 22 remained unchanged on the DSE trading floor.
Quasem Drycells dominated the turnover chart with share worth BDT 172 million changing hands followed by Beximco Pharma, Square Pharma, KDS Accessories and BSDRM Steels.
Phoenix Finance was the day’s best performer, posting a rise of 10 percent while Aziz Pipes was the day’s worst loser, plunging by 5.68 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index – CSCX – surging 123.03 points to end at 8,507.35.
Gainers beat losers 188 to 33, with 16 issues remaining unchanged on the port city bourse that traded 7.61 million shares and mutual fund units with a value of BDT 219 million.