Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended the gaining streak for the sixth straight session on Thursday, the last trading session of this fiscal year, with turnover hitting three months high, as investors were active both sides of trading fence.
Analysts said the market continued the pre-Eid bullish trend with strong enthusiasm as investors injected fresh funds into stocks in the last trading session of the current fiscal year (FY) 2016-17 to avail tax benefit.
Following the previous five day’s gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced nearly 13 points while the Selective Category Index of port city bourse rose nearly 6 points at 10:45am.
After first 30 minutes of trading, DSEX, the prime index of the DSE stands at 5,658, advancing 12 points while the Selective Category Index of port city bourse rose 2.87 points at 11:00am.
After 90 minutes of trading, DSEX pared the gain early gains and stayed positive with 0.78 point gain, while the Selective Category Index of port city bourse fell 9.0 points when the report was filed at 12:00 noon.
However, rest of the session went up steadily, finally ended nearly 10 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) finished at 5,656, advancing 9.76 points or 0.17 percent over the previous day.
The DSE Shariah Index (DSES) 5.77 points or 0.44 per cent to close at 1,297. However, the DS30 index, comprising blue chips fell 0.16 point to settle at 2,084.
Turnover, another important indicator of the market, rose to BDT 8.01 billion, which was nearly 28 percent higher than the previous day’s BDT 6.28 billion.
Gainers took a modest lead over the losers, as prices of 154 securities advanced, 134 declined and 41 remained unchanged out of the 329 issues that were traded on the DSE floor.
Doreen Power topped the DSE turnover chart with about 2.32 million shares worth BDT 337 million changing hands, closely followed by LankaBangla Finance, Regent Textile, Square Pharma and GP.
The Peninsula Chittagong was the day’s highest gainer, posting 10 percent gain, while Shympur Sugar Mills was the worst loser, losing 6.0 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged higher with its Selective Categories Index – CSCX –advancing 8.86 points to settle at 10,587.
Gainers beat losers as 126 issues closed higher, 100 closed lower and 19 remained unchanged on the CSE.
The port city bourse traded 14.26 million shares and mutual fund units’ worth BDT 347 million in turnover.