The Financial Express

DSEX crosses 6300-mark after 42-month

DSE market-cap hits a fresh all-time high

| Updated: July 24, 2021 09:06:06

DSEX crosses 6300-mark after 42-month

The prime index of the Dhaka Stock (DSEX) surpassed the 6,300-mark on Thursday as buying binge added strength to the equity indices despite worries over the virus-infused shock to the country’s economy.

The market opened on a positive and the upbeat trend sustained till the end as the government relaxed the ongoing strict lockdown before Eid amid the resumption of vaccine roll-out.

Only two trading days– Sunday and Monday --are left before Eid-ul-Azha.

DSEX, the prime index of the DSE, went up by 34.02 points or 0.54 per cent to settle at 6,307, the highest in more than 42 months since January 3, 2018, when DSEX was 6,318.

The market capitalisation of the DSE also hit a fresh all-time high at Tk 5,252 billion on Thursday, surpassing the previous record high of Tk 5,219 billion recorded just two days back.

Market experts said stocks remained mostly bullish amid growing investors’ confidence driven by various market supportive measures taken by the regulator which lured the investors to park fresh funds on stocks.

Removal of the floor price restriction, budgetary measures, lower returns from the money market and several regulatory reforms to build a vibrant capital market encouraged investors to put a fresh stake in stocks.

Two other indices edged higher with the DSE 30 Index, comprising blue chips, advanced 0.20 points to finish at 2,274 and the DSE Shariah Index (DSES) rose 6.26 points to close at 1,359.

Turnover, a crucial indicator of the market, stood at Tk 17.89 billion on the country’s premier bourse, climbing further by 8.50 per cent over the previous day’s mark of Tk 16.49 billion.

Gainers took a strong lead over the losers, as out of 375 issues traded, 270 advanced, 70 declined and 26 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- continued to top the turnover chart with shares worth Tk 1.72 billion changing hands, followed by Saif Powertec (Tk 559 million), LafargeHolcim (Tk 438 million), Shinepukur Ceramics (Tk 306 million) and Fu-Wang Foods (Tk 246 million).

Padma Life Insurance was the day’s best performer, posting a gain of 10 per cent after its category change. The company placed in ‘B’ category from ‘Z’ category effective from Thursday while Rupali Bank was the worst loser, losing 7.35 per cent following its price adjustment after the record date.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 116 points to settle at 18,318 and the Selective Categories Index – CSCX rising 68 points to close at 10,990.

Of the issues traded, 222 advanced, 75 declined and 24 issues remained unchanged on the CSE.

The port city’s bourse traded 29.22 million shares and mutual fund units with a turnover value of Tk 697 million.

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