Dhaka, Bangladesh (BBN)- DSEX crosses 5,300-mark on buying spree stocks extended their bullish spell for the third straight session on Wednesday with key index of the premier bourse crossing the 5,300-mark amid strong buying pressure.
Turnover, the most important indicator of the market, also crossed BDT 17 billion and the total turnover stood at BDT17.04 billion on the Dhaka Stock Exchange (DSE) for the first time after five and a half years, powered by investors’ buying spree on large-cap stocks.
Wednesday’s turnover was the biggest single-day transaction since July 28, 2011, when the turnover total was recorded BDT 18.05 billion.
A total number of 0.258 million trades were executed in the day’s trading session with trading volume recorded all-rime high of 579.47 million.
Market insiders said spontaneous participation backed by hopes and excitements continued to lure the sideline investors to take position on some large-cap stocks, taking the market turnover to fresh five and a half years high.
The market opened with a slow trend and the market started to sharp rise after first 30 minutes of trading which sustained till end of the session amid increased participation from the investors, ultimately ended over 56 points higher.
The key index of the DSE advanced 56.48 points, while the Selective Category Index of port city bourse rose 92.60 points within first 15 minutes of the day’s trading at the closing.
DSEX, the prime index of the DSE, continued to hold its gaining momentum, adding 56.48 points or 1.07 per cent more to settle at 5,333.87, which was the highest level of DSEX points since October 15, 2014 when the DSEX was 5,334.04.
The two other indices also saw closed higher.
The DS30, comprising blue chips, rose 13.71 points or 0.72 per cent to close at 1,908.36 points.
The DSE Shariah Index (DSES) advanced 5.43 points or 0.44 per cent to close at 1,245.85.
The gainers beat the losers 194 to 117. Fifteen issues, however, remained unchanged on the DSE trading floor.
Beximco dominated the DSE turnover chart for the five consecutive sessions with about 27.97 million shares worth nearly BDT 917 million changing hands, followed by IFAD Autos BDT 315 million, Aman Feed BDT 308 million, DESCO BDT 280 million and Ratanpur Steel Re-rolling Mills BDT 277 million.
Premier Bank was the day’s highest gainer, posting a 9.90 percent rise, while Aramit Cement was the worst loser, losing 4.77 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index – CSCX – surging 92.60 points to settle at 9,926.48.
Gainers beat losers as 164 issues closed higher, 97 closed lower and 10 remained unchanged on the CSE.
The port city bourse traded 38.37 million shares and mutual fund units’ worth BDT 969 million in turnover.