Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their winning spell for the third day in a row on Tuesday with key index of the premier bourse crossing the ‘psychological’ threshold of 5,000-mark after 26 months.
Brokers said the market’s upbeat trend sustained having optimistic support of large-cap stocks amid growing confidence of investors while some investors rebalanced their portfolio ahead of year-end as only two trading are left in 2016.
The market opened with an optimistic note in the morning, gaining more than 47 points within first half of trading session and last half saw some profit taking sale pressure, ultimately ended 23 points higher.
After hitting nearly 25 months high in the previous day, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 23.22 points or 0.46 percent to settle at 5,016.75, which was the highest level of DSEX since November 6, 2014, when DSEX was 5,025.10.
The two other indices also closed higher. The DS30, comprising blue chips, advanced 9.20 points or 0.51 percent to finish at 1,807.46 points.
The DSE Shariah Index (DSES) rose 1.0 points or 0.08 per cent to close at 1,182.23 points.
Turnover, the important indicator of the market, also rose to BDT 12.10 billion, which was 12 percent higher than the previous session’s turnover of BDT 10.82 billion. It was also the second highest single-day turnover in 2016.
The gainers took a strong lead over the losers as out of 327 issues traded, 174 closed higher, 133 closed lower and 20 remained unchanged on the DSE trading floor.
Bangladesh Export Import Company (Beximco) dominated the DSE turnover chart with about 13.44 million shares worth BDT 360 million changing hands, closely followed by Bangladesh Building Systems BDT 345 million, Unique Hotel and Resorts BDT 316 million, LankaBangla Finance BDT 264 million and Keya Cosmetics BDT 257 million.
IFIC Bank First Mutual Fund was the day’s highest gainer, posting a 10 percent gain, while Rahima Food was the worst loser for the second day in a row, losing 8.35 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index – CSCX – gaining 36.53 points to settle at 9,360.15 points.
Gainers beat losers as 140 issues closed higher, 108 closed lower and 17 remained unchanged on the CSE.
The port city bourse traded 36.14 million shares and mutual fund units’ worth over BDT 786 million in turnover.