Dhaka, Bangladesh (BBN)-Bangladesh’s stocks returned to the upbeat trend on Sunday, with key index of the Dhaka Stock Exchange (DSE) crossed the 5,600-mark, amid strong buying pressure from investors.
Analysts said the market took bullish turn amid revival of investors’ optimism after witnessing correction in the past two days.
The market started with a flying note and the key index of the premier bourse gained 32 points within first 15 minutes of trading, but next 45 minutes it lost almost all the initial gain.
However, it went up steadily in the next three hours of trading, ultimately ended 68.78 points higher.
DSEX, the key index of the DSE advanced 68.78 points, while the Selective Category Index of port city bourse rose 220.51 points at the closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 68.78 points or 1.24 per cent to finish at the highest level at 5,602.85 points, which is the highest level of DSEX since its inception on January 28, 2013.
The two other indices also finished higher.
The DS30, comprising blue chips, rose sharply by 28.02 points or 1.41 per cent to settle at 2,011.72 points.
The DSE Shariah Index (DSES) advanced 10.86 points or 0.85 per cent to close at 1,286.42 points.
Turnover, the important indicator of the market, also rose to BDT 16.68 billion, which was more than 18 per cent higher than the previous session’s turnover of BDT 14.08 billion.
The gainers took a strong lead over the losers as out of 328 issues traded, 224 closed higher, 78 closed lower and 26 remained unchanged on the DSE trading floor.
Baraka Power dominated the DSE turnover chart with about 13.68 million shares worth BDT 653 million changing hands, closely followed by LankaBangla Finance BDT 589 million, Beximco BDT 586 million, RAK Ceramics BDT 393 million and IFAD Autos BDT 383 million.
Mozzafar Hossain Spinning Mills was the day’s highest gainer, posting a 10 percent gain, while Zeal Bangla Sugar Mills was the worst loser, losing 7.35 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index – CSCX – soaring 220.51 points to settle at 10,506.08 points.
Gainers beat losers as 193 issues closed higher, 55 closed lower and 20 remained unchanged on the CSE.
The port city bourse traded 33.63 million shares and mutual fund units’ worth over BDT 1.0 billion in turnover.