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Banking shares push stocks up

WT24 Desk

Banking stocks were on higher demand on the market today (Monday) that also helped price indices close in the green zone despite a daylong lackluster trade, agencies report. Trading began in upward trend that sustained till midday, but started moving downward later on the day before closing flat in green zone with support from higher activities around banking stocks. Resultantly, Islami Bank topped the turnover list when National Bank, Trust Bank and City Bank took positions among the day’s top 10 gaining issues.

Non-banking financial institutions, fuel and power and cement were also in high demand and among the day’s major advancing sectors. The daily turnover in value at Dhaka Stock Exchange (DSE) rose by 32.66 percent to Taka 496.34 crore when the daily trade value increased by 32.66 percent to 15.13 crore shares.

The higher transaction and the cap-focused trade took the DSEX – the broader index of Dhaka Stock Exchange (DSE) – gained 12.87 points to finish the day at 4571.81. The blue-chip D30 also followed the broader index to close in the positive territory. At the close of the session, the DS30 was 3.31 points higher at 1787.26. But, the Shariah DSES witnessed a slight fall 1.66 points at 1119.54.

Chittagong Stock Exchange (CSE) also experienced the similar trend in the market with its major CASPI gaining 37.18 points at 14,038.64. Out of the traded 324 issues of at DSE, 115 gained against 172 declining issues. At CSE, 81 issued closed higher when 138 finished the day lower.

Among the days, top gaining issues were Bangladesh National Insurance, Jemine Sea Food, National Bank Limited, Trust Bank and Zahin Tex.  The major losers were Evince Textile, ICB First NRB, Exim First Mutual Fund, Khan Brothers PP and National Feeds.

Islami Bank topped the turnover leaders followed by Delta Brac Housing,BSRM Limited, Acme Lab and SPCL.

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