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Stocks extend gaining spell as banks surge

FE Online Report | Published: September 29, 2019 16:30:52 | Updated: September 30, 2019 15:43:16


Stocks ended marginally for the second straight session on Sunday as investors showed their appetite on banking sector shares.

The market opened on positive note and the key index rose more than 29 points within first 30 minutes of trading, but rest of the session eroded most of the initial gains.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 7.26 points or 0.14 per cent to settle at 4,975.

Market analysts said banking stocks like BRAC Bank, Eastern Bank, Al-Arafah Islami Bank, Mutual Trust Bank, Trust Bank and Square Pharma helped the index close green.

An analyst, however, said despite the market ended marginally higher, many investors remained worried about the recent volatility of the market and maintaining cautious approach.

The DSE Shariah Index also gained 1.01 points to close at 1,149. However, the DS30 index, comprising blue chips, saw a fractional loss of 0.98 point to finish at 1,767.

Turnover, a crucial indicator of the market, also fell to Tk 3.84 billion, which was 6.80 per cent lower than the previous day’s Tk 4.12 billion.

Losers took a modest lead over the gainers as out of 353 issues traded, 192 closed lower, 125 ended higher and 36 remained unchanged on the DSE trading floor.

A total number of 120,300 trades were executed in the day’s trading session with trading volume of 123.12 million shares and mutual fund units.

The market-cap of the DSE fell to Tk 3,759 billion on Sunday, from Tk 3,765 billion in the previous session.

Bangladesh Submarine Cable Company topped the turnover chart with shares worth nearly Tk 138 million changing hands, followed by Monno Jute Stafflers, Monno Ceramic, National Tubes and Sonar Bangla Insurance.

Golden Harvest Agro Industries was the day’s best performer, posting a gain of 9.92 per cent while ICB Second Mutual Fund was the day’s worst loser, plunging by 6.02 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended marginally higher with its All Shares Price Index (CAPSI) -- CASPI—gaining 25 points to close at 15,109 and the Selective Categories Index - CSCX –advancing 15 points to finish at 9,177.

The gainers beat the losers as 119 issues closed higher, 97 ended lower and 26 remained unchanged on the CSE.

The port city’s bourse traded 7.18 million shares and mutual fund units worth more than Tk 202 million in turnover.

 

 

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