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Stocks keep gaining amid optimism

DSEX adds 383 points in five straight sessions

FE Report | February 18, 2020 00:00:00

Stocks continued gaining momentum for the fifth straight session on Monday as investors kept their buying binge on sector-wise shares amid growing confidence in the market.

DSEX, the prime index of the Dhaka Stock Exchange, went up by 33.98 points or 0.71 per cent to close at three months high at 4,768.

The core index added nearly 383 points or 8.73 per cent in the past five consecutive sessions while DSE market-cap recovered Tk 214 billion within five days.

Turnover, an important indicator of the market, stood at Tk 9.84 billion on the country's premier bourse, climbing further by 6.55 per cent over previous day's mark of Tk 9.16 billion.

It was the biggest single-day transaction in more than one-year since February 3, 2019, when the turnover totaled a record Tk 9.84 billion.

Market analysts said liquidity support by the Bangladesh Bank and interest rate cut on post office savings scheme helped the market turnover to rise.

The DS30 index, comprising blue chips, also advanced 6.68 points to finish at 1,599 and the DSE Shariah Index rose 7.95 points to close at 1,083.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)-gaining 93 points to close at 14,530 and the Selective Categories Index - CSCX -rising 58 points to finish at 8,816.

Here too, the gainers beat losers, as 155 issues closed higher, 87 ended lower and 31 remained unchanged on the CSE.

The port city bourse traded 16.96 million shares and mutual fund units worth Tk 325 million in turnover.

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