DSEX crosses 5,300-mark riding on bank shares

GSK's share jumps 6.25pc on takeover news

FE Report | Wednesday, 5 December 2018

Stocks ticked higher on Tuesday with core index crossing the 5,300-mark again as investors showed their buying spree on banking and telecommunication issues.
Market insiders said some institutional investors were active on sector specific issues, particularly banking, financial institutions and telecommunication, taking the core index above 5,300-mark.
Notable price corrections over the last few weeks tempted the bargain hunters to take fresh position on large-cap stocks, said a leading broker.
Share price of GlaxoSmithKline rose 6.25 per cent or Tk 85.70 each to close at Tk 1457.80 on Tuesday after the news that Unilever will buy GlaxoSmithKline's health food and drinks business in Bangladesh.
The port city bourse CSE ended higher with its CSE All Share Price Index - CASPI -advancing 135 points to settle at 16,399 and the Selective Categories Index - CSCX -gaining 76 points to finish at 9,933.
The gainers beat losers as 156 issues closed higher, 66 ended lower and 22 remained unchanged on the CSE.
The port city bourse traded 13.67 million shares and mutual fund units worth more than Tk 326 million in turnover.

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