Stocks extend gaining streak for two straight sessions

DSE daily turnover jumps 27pc

December 02, 2020 15:30:43

| Updated:

December 02, 2020 17:29:03

Stocks extended the gaining streak for two straight sessions on Wednesday as optimistic investors continued their buying spree on large-cap issues amid optimism.

DSEX, the key index of the Dhaka Stock Exchange (DSE), went up by 30.90 points or 0.63 per cent to settle at 4,934. DSEX added more than 68 points in the past two trading sessions.

Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 9.47 points to finish at 1,704 and the DSE Shariah Index rose 6.26 points to close at 1,126.

Market analysts said investors showed their buying appetite on sector-wise stocks amid growing confidence in the market riding on regulatory moves to restore discipline in the market.

The bargain hunters showed their buying appetite on banking and non-bank financial sector issues riding on the news that all the listed banks except ICB Islami Bank posted net profits during the nine months of 2020 amid covid-19 pandemic, said a leading broker.

He noted that the stock market regulator’s moves to restructure the boards of the listed companies which sponsor-directors fail to hold minimum shares, also attracted the investors.

Turnover, a crucial indicator of the market, rose to Tk 8.41 billion, which was 27 per cent higher than the previous day’s turnover of Tk 6.63 billion.

Gainers took a strong lead over the losers as out of 355 issues traded, 153 ended higher, 106 closed lower while 96 issues remained unchanged on the DSE trading floor.

A total number of 170,887 trades were executed in the day’s trading session with a trading volume of 293.90 million shares and mutual fund units.

The market capitalisation of DSE rose to Tk 3,965 billion on Wednesday, from Tk 3,927 billion in the previous day.

Beximco topped the turnover list with 17.53 million shares worth Tk 448 million changing hands, closely followed by National Feed Mills, Beximco Pharma, Bangladesh Submarine Cable, and Nitol Insurance.

Summit Alliance Port was the day’s best performer, posting a gain of 9.92 per cent while ACI was the worst loser, losing 8.36 per cent following its price adjustment after the record date.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—gaining 67 points to close at 14,158 while the Selective Categories Index – CSCX rising 40 points to close at 8,527.

Of the issues traded, 109 advanced, 82 declined and 59 remained unchanged on the CSE.

The port city bourse traded 10.13 million shares and mutual fund units with a turnover value of more than Tk 241 million.

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