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Stocks ended sharply higher as investor euphoria continued across the trading floor on Wednesday.
The prime index of the Dhaka Stock Exchange (DSE), DSEX, increased 192.37 points to settle at 5,618.79. This is the highest in three months.
DSE has gained 390 points or 7.45 per cent within the last two days.
Investors are optimistic about the return of good governance in the market after the resignation of Sheikh Hasina, market experts said.
The market rally was largely supported by fundamentally strong stocks that had become cheap after sharp corrections in recent times.
The rebounded capital market continued its bullish trend, with the benchmark index increasing by around 200 points for back-to-back sessions as investor euphoria continued across the trading floor owing to positive expectations over the recent changes in the country’s political environment, according to EBL Securities.
The blue-chip index DS30, a group of 30 prominent companies, saw an 87.43-point increase to 2022, while the DSES index, which represents Shariah-based companies, saw a 42.52-point increase to 1,219.14 till the end.
Turnover, a crucial indicator of the market, stood at Tk 7.76 billion, up 3.41 per cent from the previous trading day.
The majority of the stocks saw a price decrease, as out of the 396 issues traded, 266 closed higher, 114 ended lower, and 16 remained unchanged on the DSE trading floor.
British American Tobacco was the most traded stock with shares worth Tk 549.40 million changing hands, followed by Square Pharmaceuticals PLC, Robi Axiata PLC, City Bank PLC, and DBH Finance PLC.
Chittagong Stock Exchange (CSE) also ended lower with its All Share Price Index (CASPI) rising 545 points to settle at 15938 and the Selective Categories Index (CSCX) gaining 330 points to settle at 9610.
The port city bourse traded 13.89 million shares and mutual fund units with a turnover volume of Tk 2251.59 million.