Dhaka, Bangladesh (BBN)-Bangladesh’s stocks extended winning spell for the second day in a row on Tuesday with turnover on the premier bourse hitting six years due to strong buying pressure.
Analysts said the market continued its upbeat momentum and gained strong ground as enthusiastic investors were on buying spree mostly on financial and manufacturing stocks.
Turnover, the most important indicator of the market, stood at BDT 16.97 billion on the Dhaka Stock Exchange (DSE), soaring 36 per cent over the previous day’s BDT 12.47 billion.
Tuesday’s turnover was the biggest single-day transaction since December 30, 2010, when the turnover total was recorded BDT 17.83 billion.
The key index of DSE jumped 62.78 points, while the Selective Category Index of port city bourse rose 129.68 points at the closing.
After breaking the 5,200-mark in the previous day, the Dhaka bourse continued to hold its gaining momentum, jumping 62.78 points more to the prime index, DSEX, to close at 5,277.39 points.
It was the highest level of DSEX points since October 16, 2014 when the DSEX was 5,285.83 points.
The two other indices also saw steep gain.
The DS30, comprising blue chips, rose 15.54 points or 0.82 per cent to close at 1,894.66 points.
The DSE Shariah Index (DSES) jumped 10.20 points or 0.83 per cent to close at 1,240.42 points.
The gainers took a strong lead over the losers as out of 326 issues traded, 218 closed higher, 75 closed lower and 33 remained unchanged on the DSE trading floor.
Bangladesh Export Import Company (Beximco) dominated the DSE turnover chart for the fourth day with about 19.41 million shares worth BDT 646 million changing hands, followed by Bangladesh Building Systems, Appollo Ispat Complex, IFAD Autos and LankaBangla Finance.
Paramount Textile was the day’s highest gainer, posting a 9.71 per cent rise, while Imam Button was the worst loser, losing 8.95 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index – CSCX – surging 129.68 points to settle at 9,830.16 points.
Gainers beat losers as 189 issues closed higher, 60 closed lower and 20 remained unchanged on the CSE.
The port city bourse traded 35.88 million shares and mutual fund units’ worth over BDT 1.09 billion in turnover.