Dhaka, Bangladesh (BBN)-Bangladesh’s stocks came back strongly on Monday, with key index of the premier bourse broke the ‘psychological’ threshold of 5,200-mark, as investors were buying spree on large-cap stocks amid growing confidence.
Market insiders said spontaneous participation backed by hopes and excitements lured the sideline investors to inject fresh fund on stocks, taking the prime index of the premier bourse to fresh 27 months high.
After witnessing volatility in the first 30 minutes of trading, the rest of the session went up steadily with no sign of reversal, ultimately ended nearly 56 points higher.
The key index of the DSE advanced 55.91 points, while the Selective Category Index of port city bourse up 134.11 points at the closing.
DSEX, the prime index of the DSE, rose 55.91 points or 1.08 per cent to settle at more than 27 months’ high at 5,214.60 points, which was the highest level of DSEX since October 21, 2014, when DSEX was 5,233.82.
The two other indices also saw sharp gain.
The DS30, comprising blue chips, rose 18.55 points or 0.99 per cent to close at 1,879.12 points.
The DSE Shariah Index (DSES) jumped 11.61 points or 0.95 per cent to close at 1,230.22.
Turnover, the most important indicator of the market, also rose to BDT 12.47 billion on the DSE, soaring 16 percent over the previous day’s BDT 10.75 billion.
The gainers took a strong lead over the losers as out of 326 issues traded, 209 closed higher, 74 closed lower and 43 remained unchanged on the DSE trading floor.
Bangladesh Export Import Company (Beximco) dominated the DSE turnover chart with about 21.98 million shares worth BDT 694 million changing hands, closely followed by Shasha Denims BDT 407 million, BD Thai Aluminium BDT 348 million, Shahjibazar Power Company BDT 342 million and Confidence Cement BDT 321 million.
ICB was the day’s highest gainer for the second day in a row, posting a 10 percent rise, while Samata Leather was the worst loser for the second straight day, losing 6.27 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index – CSCX – gaining 134.11 points to settle at 9,714.57.
Gainers beat losers as 184 issues closed higher, 55 closed lower and 24 remained unchanged on the CSE.
The port city bourse traded 22.53 million shares and mutual fund units’ worth over BDT 745 million in turnover.