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 5,700-mark, as investors continued their buying spree amid optimism.
Brokers said the robust market momentum continued as enthusiastic participants continued their buying spree on large-cap stocks riding on hopes and excitements, pushing the prime index of DSE to its new high.
The first half of the trading session witnessed some volatility while the last half went up steadily, ultimately ended 38.45 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 38.45 points or 0.68 percent to settle at a new high of 5,708.25, breaking the previous day’s high of 5,669.79 points.
It was the highest level of DSEX since its inception on January 28, 2013.
The two other indices also settled at a record high.
The DS30, comprising blue chips, rose 15.63 points or 0.77 percent to finish at 2,040.27 points.
The DSE Shariah Index (DSES) advanced 4.18 points or 0.32 percent to close at 1,301.78 points.
Turnover, the crucial indicator of the market, remained encouraging and the total amounted to BDT 20.13 billion, losing 7.70 percent over previous day’s mark of BDT 21.81 billion.
However, the losers took a modest lead over the gainers as out of 328 issues traded, 199 closed lower, 114 closed higher and 15 remained unchanged on the DSE trading floor.
Islami Bank dominated the DSE turnover chart with about 15.91 million shares worth BDT 731 million changing hands, closely followed by Beximco BDT 635 million, Summit Power BDT 610 million, City Bank BDT 500 million and National Bank BDT 400 million.
Zahintex Industries was the day’s highest gainer, posting a 10 percent gain, while CVO Petrochemical Refinery was the day’s top loser for the second day in a row, losing 9.97 percent following the news that the company sent to “Z” category.
The port city bourse, the Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index – CSCX – soaring 95.48 points to settle at 10,741.89 points.
Losers beat gainers as 165 issues closed lower, 114 closed higher and 12 remained unchanged on the CSE.
The port city bourse traded 42.82 million shares and mutual fund units’ worth over BDT 1.20 billion in turnover.