DSE, CSE keep gaining as bank shares surge

Stocks ended higher for the second straight session on Tuesday as investors showed their buying appetite on banking sector shares.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 28.68 points or 0.61 per cent to settle at 4,722.

Market analysts said optimistic investors were active on bank stocks as the bank shares become lucrative following the recent market correction.

Twenty three banks, out of 30, closed higher, with Mutual Trust Bank, Trust Bank, City Bank, Rupali Bank, IFIC National Bank and Dhaka Bank led the market gain.

However, Grameephone (GP), which is the largest company by capital, continued to fall, losing 0.52 per cent further to close at Tk 306.20 on Tuesday.

However, two other indices inched down. The DS30 index, comprising blue chips, lost 1.05 points to finish at 1,634 and the DSE Shariah Index fell 1.40 points to close at 1,075.

Turnover, a crucial indicator of the market, rose to Tk 5.60 billion, which was 26 per cent higher than the previous day’s turnover of Tk 4.44 billion.

It was the highest single-day turnover in two months since September 30, when turnover totalled Tk 5.95 billion.

Gainers took a modest lead over the losers as out of 350 issues traded, 184 closed higher, 133 ended lower and 33 remained unchanged on the DSE trading floor.

A total number of 153,010 trades were executed in the day’s trading session with trading volume of 227.47 million shares and mutual fund units.

The market-cap of the DSE rose to Tk 3,551 billion on Tuesday, from Tk 3,542 billion in the previous session.

National Tubes topped the turnover chart with shares worth Tk 134 million changing hands, followed by City Bank, Kattali Textile, LankaBangla Finance, and Beacon Pharma.

Saiham Textile was the best performer for the second straight session, posting a gain of 9.94 per cent while Emerald Oil Industries was the worst loser, losing 8.63 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended higher with its All Shares Price Index (CASPI)—advancing 58 points to close at 14,314 and the Selective Categories Index - CSCX –gaining 32 points to finish at 8,696.

The gainers beat losers as 149 issues closed higher, 87 ended lower and 31 remained unchanged on the CSE.

The port city bourse traded 10.90 million shares and mutual fund units worth Tk 209 million in turnover.

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