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Stocks finished higher on Monday as some investors were active in the market ahead of monetary policy statement.
Market analysts said some institutional investors continued buying shares head of monetary policy announcement anticipating that the capital will get special focus in the monetary policy statement (MPS).
The central bank is set to unveil its first half-yearly (H1) monetary policy for the current fiscal year (FY) 2019-20 on Wednesday, with the policy rates likely to remain unchanged.
The monetary instrument is also expected to continue its policy support for the country’s moribund stock market.
However, a section of investors remained cautious amid ongoing earnings declarations as a number of companies disclosed poor earnings reports, said an analyst.
The market opened on positive note and the key index rose about 35 points in the mid-session. But rest of the session it eroded some of the gains.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,160, advancing 26.81 points or 0.52 per cent over the previous day.
Two other indices also edged higher. The DS30 index, comprising blue chips, gained 4.75 points to reach at 1,844 points and the DSE Shariah Index rose 10.04 points to stand at 1,186.
The trading activities also rose to Tk 4.38 billion, which was 7.88 per cent higher than the previous day’s turnover of Tk 4.06 billion.
A total number of 133,481 trades were executed in the day’s trading session with trading volume of 144.55 million shares and mutual fund units.
The market-cap of the DSE increased to Tk 3,861 billion on Monday, from Tk 3,847 billion in the previous day.
The gainers took a strong lead over the losers as out of 353 issues traded, 242 closed higher, 93 ended lower and 18 issues remained unchanged on the DSE trading floor.
Fortune Shoes topped the turnover chart with shares worth Tk 194 million changing hands.
The other turnover leaders were United Power, Bangladesh Shipping Corporation, Square Pharma and Monno Ceramic.
Desh Garment was the day’s best performer, posting a gain of 9.97 per cent while Vanguard AML Rupali Bank Balanced Fund was the day’s worst loser, losing 9.27 per cent.
The port city bourse, the Chittagong Stock Exchange, also ended higher with the CSE All Share Price Index – CASPI – advancing 78 points to settle at 15,794 while the Selective Categories Index – CSCX –gaining 47 points to finish at 9,598.
Here too, the gainers beat the losers as 179 issues ended higher, 75 lower and 22 remained unchanged.
The port city bourse traded 8.08 million shares and mutual fund units worth Tk 204 million in turnover.