Stocks soared in the post-Eid session on Sunday with the benchmark index of the Dhaka Stock Exchange (DSE) crossing the 5,800-mark after four months.
Market operators said stocks extended their winning spell for the seventh straight sessions, which started before Eid holidays, amid the growing confidence of investors in the market.
DSEX, the prime index of the DSE, went up by 62.66 points or 1.08 per cent to settle at nearly four months high at 5,813, which is the highest level of DSEX since January 24.
DSEX added more than 301 points in seven consecutive sessions.
Two other indices also ended higher with the DSE 30 Index, comprising blue chips, advanced 5.78 points to finish at 2,192 and the DSE Shariah Index (DSES) rose 7.64 points to close at 1,282.
Turnover, a crucial indicator of the market, remained satisfactory and amounted to Tk 14.18 billion on the country’s premier bourse, which was 2.41 per cent lower than the previous day’s turnover of Tk 14.53 billion.
The market rally came on the back of positive macroeconomic indicators in the country like remittance, foreign reserve, export growth coupled with better than expected earnings declarations, said a merchant banker.
He noted that lower return from the money market, easing virus worries coupled with an extension of margin loan cap implementation time for another six months, continued to lure investors to put fresh funds on stocks.
Gainers took a strong lead over the losers, as out of 368 issues traded, 231 advanced, 88 declined and 49 issues unchanged on the DSE trading floor.
Beximco - the flagship company of Beximco Group- continued to dominate the turnover chart with shares worth about Tk 831 million changing hands, followed by Saif Powertec (Tk 422 million), Robi (Tk 318 million), Summit Power (Tk 312 million), and National Feed Mills (Tk 307 million).
A total number of 256,238 trades were executed in the day’s trading session with a trading volume of 576.06 million shares and mutual fund units.
The market cap of DSE also rose to Tk 4,930 billion on Sunday, up from Tk 4,899 billion in the previous session.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –soaring 191 points to settle at 16,849 and the Selective Categories Index – CSCX rising 112 points to close at 10,156.
Of the issues traded, 192 advanced, 68 declined and 32 remained unchanged on the CSE.
The port city’s bourse traded 37.52 million shares and mutual fund units with a turnover value of Tk 711 million.