BB moves cheer up stock prices

DSEX crosses 5,300-mark again

FE Online Report | Published: May 19, 2019 16:18:16 | Updated: May 20, 2019 11:10:58

Stocks ended higher on Sunday as investors showed their buying appetite on large-cap shares amid positive expectation.

Market analysts said the central bank’s market supportive measures which widened the banks’ scope to invest in the stock market, created hype among investors.

The Bangladesh Bank issued a circular on Thursday for exempting banks’ investments in non-listed companies from capital market exposure, a move that can give banks plenty of room for fresh investments in the stock market.

The market opened on upward note and the upbeat trend continued until end of the session with no sign of reversal.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by nearly 105 points or 2.0 per cent to settle at 5,335.

Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 31.64 points to finish at 1,849 and the DSE Shariah Index rose 17.56 points to close at 1,215.

Turnover, another important indicator of the market, also increased to Tk 4.43, which was 52 per cent higher than the previous day’s turnover of Tk 2.90 billion.

The gainers took a strong lead over the losers as out of 344 issues traded, 271 advanced, 45 declined and 28 issues remained unchanged on the DSE trading floor.

Fortune Shoes topped the turnover chart with 5.10 million shares worth Tk 195 million changing hands.

The other turnover leaders were IFIC Bank, Exim Bank, SK Trims Industries and Uttara Bank.

SK Trims was the day’s best performer, posting a gain of 10 per cent while Savar Refractories was the worst loser, losing 5.95 per cent.

The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index – CASPI –soaring 305 points to settle at 16,307 and the Selective Categories Index - CSCX –rising 184 points to finish at 9,871.

Here too, the gainers beat losers, as 179 issues closed higher, 34 ended lower and 22 remained unchanged on the CSE trading floor.

The port city bourse traded 19.07 million shares and mutual fund units worth Tk 323 million in turnover.


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