Dhaka, Bangladesh (BBN)– Bangladesh’s stocks finished higher on Wednesday, the first trading session after five-day Eid holiday, as optimistic investors continued their buying spree amid optimism.
However, the presence of the investors was thin on the trading floor as many investors are yet to resume businesses in Dhaka after enjoying Eid holidays in rural areas.
Trading and official activities on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) remained closed from June 23 to June 27 on the occasion of the Eid-ul-Fitr, the biggest religious festival of the Muslims including weekly holidays.
The trading on the bourses started at 10:30 am and continued till 2:30 pm.
Brokers said stocks extended their winning spell for the fifth straight session which started before Eid vacation, as the optimistic investors remained active on large-cap stocks ahead of June-closing.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced nearly 15 points while the Selective Category Index of port city bourse rose 10 points when the report was filing at 10:45am.
After 30 minutes of trading, DSEX stands at 5,620, advancing 21 points while the Selective Category Index of port city bourse rose 31 points at 11:00am.
After 90 minutes of trading, DSEX, the prime index of the DSE rose nearly 19 points, while the Selective Category Index of port city bourse rose 27 points at 12:00 noon.
The upward trend continued till end of the session with no sign of reversal, finally ended more than 47 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) finished at 5,646.28, advancing 47.21 points or 0.84 percent over the previous day.
The two other indices also finished higher. The DS30 index, comprising blue chips jumped 12.56 points or 0.61 percent to finish at 2084.
The DSE Shariah Index (DSES) rose 5.11 points or 0.40 percent to close at 1,291.
Turnover, another important indicator of the market, however, came down to BDT 6.28 billion, which was nearly 16 percent lower than the previous day’s BDT 7.44 billion.
Gainers took a strong lead over the losers, as prices of 221 securities advanced, 74 declined and 32 remained unchanged out of the 327 issues that were traded on the DSE floor.
LankaBangla Finance topped the DSE turnover chart with about 6.50 million shares worth BDT 368 million changing hands, closely followed by Regent Textile, CVO Petrochemical Refinery, Beximco and Beximco Pharma.
Mithun Knitting was the day’s highest gainer, posting 9.92 percent gain, while Savar Refactories was the worst loser, losing 7.25 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index – CSCX –advancing 88 points to settle at 10,578.
Gainers beat losers as 146 issues closed higher, 52 closed lower and 24 remained unchanged on the CSE.
The port city bourse traded 15 million shares and mutual fund units’ worth BDT 360 million in turnover.