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DSE, CSE extend gains on budgetary hope

DSE turnover hits three-month high


FE Online Report | Published: June 11, 2019 15:56:58 | Updated: June 13, 2019 10:25:39


Stocks extended the gaining on Tuesday, with turnover hitting nearly three- month high, as investors continued to show their buying appetite on large-cap stocks amid budgetary expectations.

Market analysts said stocks kept gaining amid growing confidence of investors ahead of national budget for the (FY) 2019-20.

Finance Minister A H M Mustafa Kamal is set to place the national budget for the FY 2019-20 on Thursday next.

Earlier, Mr. Kamal pledged that there would be many incentives for the stock market in the upcoming budget.

The market opened on upbeat note and the upward trend sustained 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), settle at 5,475, soaring 44.38 points or 0.81 per cent over the previous session.

Two other indices also closed higher. The DS30 index, comprising blue chips, advanced 20.15 points to finish at 1,921 and the DSE Shariah Index rose 12.51 points to close at 1,244.

Turnover, another important indicator of the market, also rose to three-month high to Tk 578 billion, which was 19 per cent higher than the previous session’s turnover of Tk 4.84 billion.

A total number of 143,033 trades were executed in the day’s trading session with trading volume of 148.51 million securities.

The market capitalisation of the DSE rose to Tk 4,022 billion on Tuesday, from Tk 3,990 billion in the previous session.

The gainers took a modest lead over the losers as out of 352 issues traded, 224 advanced, 75 declined and 53 issues remained unchanged on the DSE trading floor.

United Power topped the turnover chart with 799,152 shares worth Tk 296 million changing hands.

The other turnover leaders were JMI Syringes, BBS Cables, Square Pharmaceuticals and Khulna Power Company.

Quasem Industries was the day’s best performer, posting a gain of 9.94 per cent while Vanguard AML BD Finance Mutual Fund One was the worst loser, losing 6.32 per cent.

The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index – CASPI –soaring 158 points to settle at 16,773 and the Selective Categories Index - CSCX –advancing 97 points to finish at 10,160.

Here too, the gainers beat losers, as 175 closed higher, 57 ended lower and 36 remained unchanged on the CSE trading floor.

The port city bourse traded 10.56 million shares and mutual fund units worth Tk 490 million in turnover.

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