The Financial Express

DSE, CSE end higher as bank shares surge

| Updated: December 03, 2018 12:16:38

Stocks soar as bank shares surge

Stocks ended higher on Tuesday, after remaining flat in the past session, as investors showed their buying spree, particularly on financial issues.

Market insiders said the institutional investors were active on sector-wise stocks, especially banking and financial institutions while some rebalanced their portfolios based on quarterly earnings results.

The market opened on positive note and the upward trend continued till end of the session with no sign of reversal, finally DSEX ended more than 41 points higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,298, advancing 41.72 points or 0.79 per cent over the previous day.

Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also closed higher.

The DS30 index, comprising blue chips, advanced 15.77 points to finish at 1,868 and the DSE Shariah Index rose 6.67 points to close at 1,221.

Turnover, another important indicator of the market, stood at Tk 7.17 billion, which was 11 per cent lower than the previous day’s turnover of Tk 8.03 billion.

A total number of 162,624 trades were executed in the day’s trading session with trading volume of 168.02 million securities.

The market capitalisation of the DSE stood at Tk 3,823 billion on the day which was Tk 3,816 billion in the previous day.

The gainers took a modest lead over the losers as out of 323 issues traded, 159 advanced, 124 declined and 40 issues remained unchanged on the DSE trading floor.

Khulna Power Company topped the DSE turnover chart with 6.73 million shares worth Tk 527 million changing hands.

The other turnover leaders were Brac Bank, United Power, Shepherd Industries and SK Trims Industries.

Desh Garment was also the day’s best performer, posting a gain of 9.95 per cent while Golden Harvest Agro Industries was the worst loser, losing 10.71 per cent following its price adjustment after record date.

The port city bourse CSE ended higher with its CSE All Share Price Index – CASPI –advancing 106 points to settle at 16,244 and the Selective Categories Index - CSCX –gaining 69 points to finish at 9,851.

The gainers beat losers as 112 issues closed higher, 96 ended lower and 33 remained unchanged on the CSE.

The port city bourse traded 9.78 million shares and mutual fund units worth more than Tk 271 million in turnover.

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