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Share indices rocket on post-Eid bull market

WT24 Desk

Share price indices at the country’s two stock exchanges on Tuesday rocketed to cross the higher level as post-Eid market was predominantly bullish on strong demand, BSS reports. The broader price index of Dhaka Stock Exchange (DSE) gained a substantial 1.61 percent or 75.17 points to cross the 4700-point mark when the two other selective indices also followed the suit rising beyond their next upper levels.

DSEX closed the day at 4731.31, with the blue-chip DS30 and Shariah DSES finishing at 1858.34 and 1164.14 respectively.  The daily trade value and volume, however, declined because of scrip-focused buying and the persisting holiday mood. The day’s transaction was Taka 492.67 crore for 10.78 crore shares against 11.73 crore shares worth Taka 520.65 crore traded on the last pre-Eid session on Tuesday.

There was no share trading at the country’s twin stock exchanges from July 15 to 20 as the bourses went for a six-day holiday for Shab-e-Qadr and Eid-ul-Fitr. All the official activities and trading returned to usual business hours on Tuesday when market saw share pricing rising across the board.

At DSE, 314 securities closed higher when 65 incurred loss and 38 remained unchanged among 317 issues traded. Banking, cement and pharmaceuticals stocks were among the investors’ major focus. They also went for buying shares of the companies that would announce their half-yearly earnings in the coming days.

SPCL, BSRM Limited, Islami Bank, Continental Insurance and Republic Insurance were among the top five advancing issues when Prime Life, Hakkani Pulp, FBFIF, BD Welding and MBL1stMF were the most losing issues. Investors focused on the high-cap group, making Lafarge Surma, GP, ACI, KPCL and RAK Ceramic the day’s most performing companies.

Chittagong Stock Exchange (CSE) also finished the post-Eid session with a big rise in its major CSCX index that gained 138.93 points to close at 8852.65.

Out of the traded 236 issues, 147 advanced, 60 incurred loss and 29 remained static when the 1.07 crore shares worth Taka 44.96 crore changed hands. On the both stock exchanges, the major gaining sectors were cement, engineering, bank, fuel and power, NBFI and pharmaceuticals while telecom was the major losing sector.

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