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Stocks extend gaining spell amid budget hope

FE Online Report | Published: May 29, 2019 15:29:17 | Updated: May 31, 2019 10:46:21


Stocks extended the gaining spell on Wednesday as investors showed their buying spree amid post-Eid expectation.

Market analysts said investors showed buying appetite on sector specific shares amid budgetary expectation.

Only one trading session is left before nine-day Eid vacation. Trading and official activities will remain closed from May 31 to June 8, including weekly and special holidays.

The market opened on upward note and the positive 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), settled at 5,354, advancing 25 points or 0.47 per cent.

Two other indices also closed higher. The DS30 index, comprising blue chips, advanced 6.89 points to finish at 1,868 and the DSE Shariah Index gained 4.37 points to close at 1,212.

Turnover, another important indicator of the market, however, stood at Tk 3.32 billion, which was nearly 18 per cent lower than the previous day’s turnover of Tk 4.03 billion.

A total number of 96,415 trades were executed in the day’s trading session with trading volume of 101.69 million securities.

The market capitalisation of the DSE stood at Tk 3,919 billion on Wednesday, from Tk 3,911 billion in the previous session.

The gainers took a modest lead over the losers as out of 347 issues traded, 174 advanced, 117 declined and 56 issues remained unchanged on the DSE trading floor.

New Line Clothings topped the turnover chart with 6.17 million shares worth Tk 143 million changing hands.

The other turnover leaders were JMI Syringes, United Power, SK Trims Industries and Mercantile Bank.

JMI Syringes was the day’s best performer, posting a gain of 6.69 per cent while Berger Paints was the worst loser, losing 8.05 per cent.

The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index – CASPI –advancing 78 points to settle at 16,338 and the Selective Categories Index - CSCX –gaining 47 points to finish at 9,893.

Here too, the gainers beat losers, as 129 closed higher, 87 ended lower and 42 remained unchanged on the CSE trading floor.

The port city bourse traded 6.33 million shares and mutual fund units worth Tk 159 million in turnover.

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