Stocks witnessed yet another positive session Tuesday amid increased trading activities as optimistic investors showed their buying spree on largest market cap Grameephone’s shares.
Traders said the market stayed on positive note largely supported by heavyweight Grameenphone shares and enthusiastic investors took position, anticipating positive earnings and dividend declaration.
The telecom sector continued to surge as GP share price continued to soar and closed at Tk 503.80. Its share price surged to Tk 9.40 or 1.90 per cent on the day.
“GP is the largest market cap listed company, which accounted for more than 17 per cent market cap of prime bourse to affect the index largely,” said an analyst at a leading brokerage firm.
The market started on a positive note and the upward trend sustained till end of the session amid sudden sale pressure in the mid-session. Finally it ended more than 11 points higher.
DSEX, the core index of the Dhaka Stock Exchange (DSE), went up by 11.72 points or 0.18 per cent to settle at 6,206.72.
Two other indices also ended higher. The DS30 index, comprising blue chips, soared 16.71 points or 0.73 per cent to finish at 2,302. The DSE Shariah Index (DSES) gained 4.70 points or 0.33 per cent to 1,433.
The market activities also increased, the total turnover amounting to Tk 5.63 billion, which was 12 per cent higher than the previous day’s turnover of Tk 5.02 billion.
The losers, however, took a modest lead over the gainers as out of 334 issues traded, 145 closed lower, 130 higher and 59 remained unchanged on the DSE trading floor.
Square Pharmaceuticals topped the day’s turnover chart for the fourth day in a row with 1.35 million shares worth Tk 449 million changing hands, followed by Beximco Pharmaceuticals, Grameenphone, IFAD Autos and Dragon Sweater.
Monno Ceramic Industries was the day’s best performer, posting a gain of 9.31 per cent while United Insurance was the day’s worst loser, plunging by 5.70 per cent.
The port city bourse, Chittagong Stock Exchange (CSE), also ended higher with CSE All Share Price Index–CAPSI–advancing more than 38 points to finish at 19,157.
The Selective Categories Index - CSCX – also edged up by 24 points to settle at 11,568.
Gainers beat losers as 118 issues closed higher, 95 lower and 25 issues remained unchanged on the CSE.
The port city bourse traded 6.33 million shares and mutual fund units worth more than Tk 214 million in turnover.
