Dhaka, Bangladesh (BBN) – Dhaka stocks ended higher on Thursday, a day after price correction amid profit taking as investors’ confidence boosted up following the ongoing positive market trend.
The market witnessed volatility in the first one hour as cautious investors took profit. But, rest of the session it went up steadily and finally ended more than 58 points higher.
The benchmark general index of the Dhaka Stock Exchange— (DGEN), the yardstick of the market went up by 58.89 points or 1.25 percent to close at 4,759.14.
The gainers took a strong lead over the losers as out of 256 issues traded, 213 advanced, 34 declined and nine remained unchanged.
However, turnover value declined slightly and stood at BDT 4.43 billion against BDT 4.78 billion in the previous session.
During the day’s rally, telecommunications gained 3.77 percent, fuel and power 3.24 percent, textile 1.18 percent, general insurance 0.98 percent and pharmaceuticals 0.84 percent highlighted positive region.
While life insurance and engineering landed on negative region and lost 0.40 per cent and 0.26 percent.
High dividend yield Grameenphone (GP) continued to dominate the top turnover list with shares worth BDT 226.92 million changing hands.
The other turnover leaders were Beximco Limited, MJL BD, Jamuna Oil, MI Cement, UCBL, BSRM Steels, Keya Cosmetics, Prime Bank and Titas Gas.
Tallu Spinning was the day’s highest gainer posting a rise of 9.13 percent while National Tea Company was the worst loser.
The Chittagong Stock Exchange (CSE) key index, CSCX, also showed similar trend and gained 165.751 points to close at 8864.89. The CSE key index lost 127.09 points on Wednesday.
BBN/BB/SI-22Mar12-9:30 pm (BST)