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Stocks go up

  • Staff Correspondent
  • 1 September, 2022 12:00 AM
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Stocks go up

Stocks extended their winning streak Wednesday, with a turnover crossing Tk 20 billion-mark once again, as the enthusiastic investors put fresh funds on major sector shares amid high hopes.

DSEX, the prime index of the Dhaka stock exchange, went up by 24.38 points or 0.38 per cent to finish at 6,457. The DSEX added about 177 points in the past five trading days.

Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 3.73 points to finish at 2,283 and the DSE Shariah index gained 2.38 points to close at 1,398.

Turnover, a crucial indicator of the market, stood at Tk 20.05 billion on the country’s premier bourse, a further buck by 13 per cent over previous day’s mark of Tk 17.69 billion.

Market operators said the market remained bullish amidst enthusiastic participation as the investors are more confident to put fresh bets on major sector stocks anticipating positive momentum ahead.

The growth in turnover and index -- the two most important indicators of the market -- in general suggests investors’ confidence in the market is back on the ascent, said a merchant banker.

He noted that the recent recovery signs on the macroeconomic front, particularly foreign exchange market stability, easing inflationary pressures, and slashing fuel prices kept the market afloat.

Gainers took a modest lead over the losers as out of 380 issues traded, 179 advanced, 135 declined and 66 issues remained unchanged on the DSE trading floor.

Lafargeholcim Bangladesh became the most-traded stock with shares worth Tk 974 million changing hands.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index (CASPI) gaining 108 points to settle at 19,005 and its Selective Categories Index (CSCX) rising 63 points to close at 11,389.

Of the issues traded, 157 advanced, 99 declined and 52 issues remained unchanged.

The port-city bourse traded 25.25 million shares and mutual fund units with turnover value of nearly Tk 707 million.