Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their winning spell for the third day in a row on Thursday, with key index of the major bourse hitting 23 months high, as investors’ injected fresh fund on stocks amid growing confidence.
Analysts said spontaneous participation backed by hopes and excitements coupled with steady capital market scenario lured the sideline investors to inject fresh fund on stocks, taking the major index to 23 months high with turnover reaching to BDT 11.50 billion for the second time in 2016.
After hitting a fresh 16 months high in the previous day, the market started with an optimistic note and the upbeat trend persistent till the end of the session with no sign of reversal amid increased participation from the investors.
The prime index of the Dhaka Stock Exchange (DSE) went up further by 21.53 points or 0.44 percent to settle at 23 months high at 4,892.82, which was the highest level of DSEX since January 18, 2015, when DSEX was 4,917.37 points.
The two other indices also edged higher. The DS30 comprising blue chips advanced 2.55 points or 0.14 percent to finish at 1,795.66 points.
The DSE Shariah Index (DSES) rose 3.07 points or 0.26 percent to close at 1,161.37 points.
Turnover, the most important indicator of the market, stood at BDT 11.50 billion on the DSE, soaring 33 percent over the previous day’s BDT 8.64 billion.
Thursday’s turnover was also the second highest turnover in 2016, although largely driven by block trade of Olympic Industries, which continued BDT 2.07 billion alone in the total turnover.
The gainers took a modest lead over the losers as out of 325 issues traded, 151 closed higher, 125 closed lower and 49 remained unchanged on the DSE trading floor.
Aftab Automobiles dominated the DSE turnover chart with about 4.93 million shares worth BDT 297 million changing hands, followed by Shasha Denims BDT 235 million, IFAD Autos BDT 228 million, Olympic Accessories BDT 221 million and Ratanpur Steel Re-rolling Mills BDT 218 million.
S Alam Cold Rolled Steels was the day’s highest gainer, posting a 9.94 percent gain, while Shympur Sugar Mills was the worst loser, slumping by 9.92 percent.
The port city bourse, the Chittagong Stock Exchange (CSE) also finished higher with its Selective Categories Index – CSCX – advancing 41.34 points to settle at 9,151.68 points.
Gainers beat losers as 146 issues closed higher, 78 closed lower and 31 remained unchanged on the CSE.
The port city bourse traded 24.43 million shares and mutual fund units’ worth over BDT 583 million in turnover.