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Stocks keep gaining streak

FE Online Report | Published: May 30, 2019 16:28:42 | Updated: June 02, 2019 10:27:18


Stocks extended the gaining streak for the fifth straight session on Thursday as investors continued their buying appetite on budget expectation.

Analysts said the market kept gaining as some investor hopeful about the budget measures to revive the moribund market.

Meanwhile, trading and official activities will remain closed for nine days on the occasion of Eid-ul-Fitr from May 31 to June 8, including weekly and special holidays.

The market opened on positive note and the first three hours went through flat movement. But the final hour rose sharply.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 23.54 points or 0.44 per cent to settle at 5,377.

Two other indices also finished higher. The DS30 index, comprising blue chips, advanced 8.33 points to finish at 1,876 and the DSE Shariah Index gained 2.04 points to close at 1,212.

Turnover, another important indicator of the market, also rose to Tk 4.25 billion, which was 28 per cent higher than the previous day’s turnover of Tk 3.33 billion.

A total number of 104,973 trades were executed in the day’s trading session with trading volume of 115.31 million securities.

The market capitalisation of the DSE rose to Tk 3,941 billion on Thursday, from Tk 3,919 billion in the previous session.

The gainers took a modest lead over the losers as out of 345 issues traded, 180 advanced, 115 declined and 50 issues remained unchanged on the DSE trading floor.

United Power topped the turnover chart with 809,938 shares worth Tk 277 million changing hands.

The other turnover leaders were JMI Syringes, National Life Insurance, BRAC Bank and Bangladesh Submarine Cable Company.

Premier Leasing was the day’s best performer, posting a gain of 18.08 per cent while Beach Hatchery was the worst loser, losing 8.33 per cent.

The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index – CASPI –advancing 37 points to settle at 16,375 and the Selective Categories Index - CSCX –gaining 23 points to finish at 9,917.

Here too, the gainers beat losers, as 127 closed higher, 83 ended lower and 34 remained unchanged on the CSE trading floor.

The port city bourse traded 10.20 million shares and mutual fund units worth Tk 420 million in turnover.

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