Dhaka, Bangladesh (BBN)-Bangladesh’s stocks edged marginally up on Wednesday with turnover crossing BDT 6.50 billion-mark after three and a half months as favourable prices spurred investors’ participation.
“Buying spree was spurred by mainly reduced banks’ deposit interest rate and low prices of stocks,” said an analyst.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 12.72 points or 0.28 percent to close at 4,484.90 points.
However, the other two indices closed in the red like previous session.

The DS30, comprising blue chips lost 0.92 points or 0.05 percent to close at 1,649.67 points. The DSE Shariah Index declined 0.28 points or 0.02 percent to close at 1,020.39 points.
DSE turnover stood at BDT 6.51 billion, registering an increase of 32.52 percent over the previous session’s value.

It was also three and a half month high turnover since BDT 6.73 billion on 24 April, this year.
“The market recovered from its previous gloomy outlook from last session as the investors confirmed their confidence in the recent bullish spell by the day’s upbeat performance,” said International Leasing Securities.
“Market continued its positive momentum and gained strong ground Wednesday. Market continued to see buying interest mostly supported by financial and manufacturing stocks,” said LankaBangla Securities.
IDLC Investments, said: “The bourse got rhythm from increased participation of investors. As a result, DSEX ended positive with a gain of 12.72 points to 22 sessions’ peak of 4,484.90 points”.
Out of 296 issues traded, 154 advanced, 93 declined and 49 remained unchanged on the DSE floor.
MJL Bangladesh was the most traded stock with shares worth BDT 761.27 million changing hands followed by GP, Beximco, ACI and Golden Son.
Padma Life Insurance was the day’s highest gainer, posting a rise of 9.85 percent while Summit Alliance Port Ltd was the day’s worst loser, slumping by 5.47 percent.
The port city bourse, Chittagong Stock Exchange (CSE), also closed marginally higher with its Selective Categories Index – CSCX – gained 11.39 points to close at 8,493.33 points.
Gainers beat losers 116 to 88, with 26 issues remaining unchanged at the port city bourse that traded 12.11 million shares and mutual fund units, turnover value of BDT 448.19 million.
BBN/BB/ANS-06Aug14-4:00pm (BST)