Stocks end higher

Stocks closed higher on Sunday as opportunistic investors continued taking positions in the sector-specific shares in anticipation of quick gains.

The easing of adversities on the macroeconomic front, along with the central bank’s decision to keep policy rates unchanged at 10 per cent for the second half of the current fiscal year, boosted investor confidence to some extent.

Besides, declining Treasury yields and bank interest rates spurred bargain hunters to take positions in lucrative shares amid expectations for a reversal from the market’s prolonged bearish sentiment.

Analysts believe the Bangladesh Bank’s (BB) decision to keep its policy rate unchanged amid falling inflation and treasury yields is a positive signal for the equity market outlook.

The prime index of the Dhaka Stock Exchange (DSE) increased 23.99 point to settle at 5,224.37.

The blue-chip index DS30, comprising 30 leading companies, increased by 11.16 points to 1,921.06, while the DSES Index, representing Shariah-compliant companies, increased by 3.19 points to 1,166.10 by the close.

Turnover, a crucial indicator of the market, stood at Tk 4.88 billion, up 4.70 per cent from the previous trading day.

The majority of the stocks saw a price increase, as out of the 398 issues traded, 217 closed higher, 124 ended lower, and 57 remained unchanged on the DSE trading floor.

Grameenphone was the most-traded stock with shares worth Tk 231.33 million changing hands, followed by Orion Infusion, Fu Wang Food, Malek Spinning Mills and Robi Axiata.

The Chittagong Stock Exchange (CSE) ended up with its All Share Price Index (CASPI) increasing 16.1 points to settle at 14513, and the Selective Categories Index (CSCX) increasing 9.9 points to settle at 8803.9.

The port city bourse traded 2.64 million shares and mutual fund units with a turnover volume of Tk 108.57 million.

farhan.fardaus@gmail.com