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The Financial Express

Stocks extend gaining streak on buying binge

FE Online Report | Published: October 30, 2018 15:44:23 | Updated: October 31, 2018 16:25:06


Stocks climb on buying spree

Stocks ended higher, extending their gaining streak for the second day in a row, on Tuesday as investors brought shares on lucrative price levels.

The market started the day on positive note and the upward trend sustained till end of the session with no sign of reversal as investors were active in the undervalued stocks.

DSEX, the benchmark index of the Dhaka Stock Exchange, rose 52.56 points or 1.0 per cent, closing the day at 5,299.

Positive support of institutional investors including state-run Investment Corporation of Bangladesh (ICB) also played a vital role to close the market higher, said a leading broker.

The two other indices—the DS30 index and the DSE Shariah Index (DSES)–also ended higher.

The DS30 index, comprising blue chips, advanced 16.36 points to finish at 1,876 and the DSE Shariah Index rose 7.33 points to close at 1,226.

Turnover, another important indicator of the market, crossed Tk 5.0 billion-mark and the total turnover amounted to Tk 5.52 billion, which was 25 per cent higher than the previous day’s turnover of Tk 4.42 billion.

Of the traded issues, 231 advanced, 73 declined and 34 securities closed unchanged on the premier bourse.

A total number of 132,061 trades were executed in the day’s trading session on the DSE with trading volume of 148.54 million securities.

The market capitalisation of the DSE also rose to Tk 3,845 billion on the day which was Tk 3,826 billion in the previous session.

Khulna Power Company continued to dominate the DSE turnover chart with 3.91 million shares worth Tk 488 million changing hands.

The other turnover leaders were Shahjalal Islami Bank, Summit Power, Pharma Aids and Advent Pharma.

SK Trims Industries was the day’s best performer, posting a gain of 10 per cent while Standard Ceramic was the worst loser, losing 7.46 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also ended higher with its CSE All Share Price Index–CASPI–soaring 180 points to settle at 16,227 and the Selective Categories Index - CSCX –rising 110 points to finish at 9,839.

The gainers beat losers as 166 issues closed higher, 49 ended lower, with 25 issues remaining unchanged on the CSE.

The port city bourse traded 10.68 million shares and mutual fund units worth Tk 302 million in turnover.

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