DSEX hits all-time high on buying spree

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed yet another positive session on Thursday, with the DSEX hitting its all-time high amid growing confidence.
Brokers said the market had a historic day as the key index of the major bourse ended at its highest ever closing level since inception on January 27, 2013 on expectations of better days ahead.
The market opened with a positive note and the benchmark index of the Dhaka Stock Exchange (DSE), went up by15.26 points or 0.28 percent to reach at 5,349.13 points within first 15 minutes of trading.
However, the upward momentum could not sustain for a long as risk-averse investors started to book profit on stocks which saw significant gain in the past few days.
After 30 minutes of trading, DSEX, the prime index of the DSE, fell 5.39 points or 0.10 per cent to stand at 5,328.48 points at 11:00am.
After two hours of trading at 12:30pm, DSE lost 13 points to come down at 5,320 points, but rest of the session went up steadily, ultimately ended 9.0 points higher.
The key index of the DSE added 9.0 points, while the Selective Category Index of port city bourse advanced 19.50 points at the closing.
DSEX, the prime index of the DSE, continued to hold its gaining momentum, adding 9.0 points or 0.16 per cent more to settle at 5,342.88, which was the highest level of DSEX since its inception on January 27, 2013.
Earlier on October 12, 2014, DSEX reached the highest level at 5,334.04 points.
The DS30, comprising blue chips, also advanced 2.14 points or 0.11 per cent to close at 1,910.51 points.
However, the DSE Shariah Index (DSES) fell 2.84 points or 0.23 per cent to close at 1,243.01 points.
Turnover , however, came down to BDT 14.17 billion, which was 17 per cent lower over the previous day’s five and a half years’ high of BDT 17.04 billion.
The losers took a modest lead over the gainers as 327 issues traded, 158 closed lower, 150 closed higher and 19 remained unchanged on DSE trading floor.
Beximco dominated the DSE turnover chart for the sixth straight day with about 21.22 million shares worth nearly BDT 709 million changing hands, closely followed by Baraka Power BDT 708 million, LankaBangla Finance BDT646 million, IFAD Autos BDT 489 million and Orion Pharmaceuticals BDT 261 million.
Baraka Power was the day’s highest gainer, posting a 9.65 per cent rise, while Bangladesh Autocars was the worst loser, losing 4.41 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged higher for the four consecutive days with its Selective Categories Index – CSCX – advancing 19.50 points to settle at 9,945.98 points.
Losers beat gainers as 137 issues closed lower, 121 closed higher and 17 remained unchanged on the CSE.
The port city bourse traded 29.73 million shares and mutual fund units’ worth BDT783 million in turnover.

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