Stocks extended the rally for the three consecutive sessions on Sunday as optimistic investors continued to put fresh bets on lucrative shares amid positive expectations.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.42 points or 0.42 per cent to settle at 6,965. DSEX added 262 points in the past three straight sessions.
Two other indices also edged higher. The DS30 Index, comprising blue chips, advanced 2.32 points to finish at 2,638 and the DSE Shariah Index (DSES) rose 2.15 points to close at 1,461.
Turnover, a crucial indicator of the market, dropped to Tk 8.95 billion, which was 28 per cent lower than the previous day’s tally of Tk 12.45 billion.
Market analysts said the investors were inspired by the finance ministry’s move to arrange a meeting with the central bank and the stock market regulator on Tuesday to resolve the ongoing issues of the capital market.
“Hope for a better outcome from the upcoming meeting encouraged investors to put fresh bets on major sector stocks,” according to a stockbroker.
Gainers took a strong lead over the losers, as out of 373 issues traded, 245 advanced, 79 declined and 49 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock with shares worth Tk 1.17 billion changing hands, followed by ONE Bank (Tk 388 million), First Security Islami Bank (Tk 331 million), Delta Life Insurance (Tk 301 million) and Power Grid Company (Tk 247 million).
Asia Insurance was the day’s highest gainer, gaining 10 per cent while Vanguard AML BD Finance Mutual Fund One was the day’s worst loser, losing 7.86 per cent.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –rising 161 points to settle at 20,415 and the Selective Categories Index – CSCX, gaining 95 points to close at 12,275.
Of the issues traded, 192 advanced, 77 declined and 26 remained unchanged on the CSE.
The port city’s bourse traded 21.04 million shares and mutual fund units with a turnover value of Tk 633 million.