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Stocks extend winning streak on ICB support

FE Online Report | Published: October 24, 2019 15:37:43 | Updated: October 27, 2019 11:27:14


Stocks extended the gaining streak for the second straight session on Thursday as bargain hunters showed their appetite on large-cap shares.

Analysts said the market ended higher as the optimistic investors took position on stocks that saw sharp correction in recent market erosion.

Positive support of institutional investors including state-run Investment Corporation of Bangladesh (ICB) also played a vital role to close the market higher, said a leading broker.

The market opened on positive note and the upturn sustained until end of the session with some volatility in the first hour.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 45.38 points or 0.96 per cent to settle at 4,772.

Two other indices also closed higher. The DS30 index, comprising blue chips, advanced 15.75 points to finish at 1,675 and the DSE Shariah Index gained 11.59 points to close at 1,096.

Turnover, another important indicator of the market, also rose to Tk 3.22 billion, which was nearly 19 per cent higher than the previous day's turnover of Tk 2.71 billion.

The gainers took a strong lead over the losers as out of 354 issues traded, 223 closed higher, 85 ended lower and 46 issues remained unchanged on the DSE trading floor.

A total number of 106,108 trades were executed in the day's trading session with trading volume of 104.75 million securities.

The market capitalisation of the DSE also rose to Tk 3,610 billion on Thursday, from Tk 3,567 billion in the previous session.

The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index - CASPI -advancing 153 points to settle at 14,537 and the Selective Categories Index - CSCX -gaining 89 points to finish at 8,836.

Here too, the gainers beat the losers as 169 issues closed higher, 49 ended lower and 22 remained unchanged.

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