Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended higher for the five consecutive sessions in a row on Monday with high turnover as investors were active on both sides of trading fence.
Market insiders said favorable macro-economic indicators coupled with persistent positive market scenario continued to lure the sideline investors, taking the market turnover to above BDT 11.20 billion again.
The market opened with an optimistic note in the morning, gaining more than 32 points to reach at 4,970 points within first 30 minutes of trading.
The market saw some sale pressure in the next one hour and came down to 4,946 at 12 noon.
But, the rest of the session saw some buying spree with increased participation from investors amid choppy trading.
At the end of the session, DSEX, the prime index of the DSE, went up by 3.06 points or 0.06 percent to settle at 23 months’ high at 4,941.65 points, which was the highest level of DSEX since January 15, 2015, when DSEX was 4,956.09.
However, the two other indices closed in the red. The DS30 comprising blue chips fell 6.20 points or 0.34 percent to finish at 1,796.83 points.
The DSE Shariah Index (DSES) lost 2.21 points or 0.18 percent to close at 1,167.26 points.
Turnover, the crucial indicator of the market, remained above BDT 11 billion-mark and amounted to BDT 11.20 billion, which was 15 percent higher than the previous day’s BDT 9.75 billion.
The gainers took a modest lead over the losers as out of 325 issues traded, 147 closed higher, 135 higher and 43 remained unchanged on the DSE trading floor.
Bangladesh Building Systems dominated the DSE turnover with about 8.61 million shares of BDT 477 million changing hands, followed by Square Pharma BDT 330 million, Saif Powertec BDT 325 million, IFAD Autos BDT 265 million and Lafarge Surma Cement BDT 260 million.
Fu-Wang Foods was also the day’s highest gainer, posting a 9.85 percent rise, while BD Autocars was the worst loser, slumping by 7.93 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also finished slightly higher with its Selective Categories Index – CSCX – advancing 1.28 points to settle at 9,210.42 points.
Gainers beat losers as 120 issues closed lower, 109 closed higher and 31 remained unchanged on the CSE.
The port city bourse traded 19.87 million shares and mutual fund units’ worth over Tk 526 million in turnover.