Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended higher for the third day in a row on Wednesday, with key index of the premier bourse hitting a fresh 16 months high, as enthusiastic investors continued on buying spree amid optimism.
Market insiders said the most of the investors remained active on the sector specific stocks owing to positive economic cues, taking the prime index of Dhaka Stock Exchange (DSE) to a fresh 16 months high since August 2015.
The market started with a positive note and the positive momentum sustained till end of the session with last minutes sharp rise, ultimately closed 25 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 25.19 points and the Selective Categories Index of the Chittagong Stock Exchange advances 43.23 points at the closing.
By the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 25.19 points or 0.52 percent to settle at 16 months high at 4,871.28, which was the highest level of DSEX since August 5, 2015, when DSEX was 4,873.96.
The two other indices also ended higher. The DS30 comprising blue chips advanced 7.64 points or 0.43 percent to finish at 1,793.11 points.
The DSE Shariah Index (DSES) soared 6.11 points or 0.53 percent to close at 1,158.29 points.
Turnover, the crucial indicator of the market, also rose to BDT 8.64 billion, which was 8.68 per cent higher than the previous session’s turnover of BDT 7.95 billion.
The gainers took a modest lead over the losers as out of 325 issues traded, 144 closed higher, 132 closed lower and 49 remained unchanged on the DSE trading floor.
Olympic Industries dominated the DSE turnover chart with about 1.46 million shares worth over BDT 460 million changing hands, followed by IFAD Autos BDT 186 million, Ratanpur Steel Re-rolling Mills BDT 285 million, Argon Denims BDT 238 million and Quasem Drycells BDT 209 million.
Dragon Sweater and Spinning was the day’s highest gainer, posting a 9.59 percent gain, while Standard Insurance was the worst loser, slumping by 9.04 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished higher with its Selective Categories Index –CSCX – advancing 43.23 points to settle at 9,110.33 points.
Gainers beat losers as 131 issues closed higher, 93 closed lower and 25 remained unchanged on the CSE.
The port city bourse traded 19.59 million shares and mutual fund units’ worth over BDT 493 million in turnover.