Stocks soared on Sunday with key index of the prime bourse hitting nearly five months high as the investors showed their appetite on the expectation of improving economic activities.
DSEX, the key index of the Dhaka Stock Exchange, went up by 48.13 points or 1.18 per cent to settle at 4,129 during the four hours trading.
It was the highest level of DSEX since March 12, 2020, although trading was closed for two months (March 26 to May 30) due to government holiday to curb the spread of deadly Covid-19 virus.
Market operators said gradual reopening of the economy and the stock market regulator’s assurance not to lift floor price restriction until the market got stable, led investors for buying shares at possible lowest prices.
The investors showed buying appetite on the selective large-cap issues amid optimism owing to gradual reopening of the economy and revival of some specific sectors’ activity, said a merchant banker.
The stock market regulator, in cooperation with the Bangladesh Bank, is inspiring banks to buy stocks at a lucrative price level, also attracted investors, he said.
The central bank’s recent directive on easing foreign investment and increase fund flow from the banking sector created a positive impact, he said.
Two other indices also ended higher. The DS30 index, comprising blue chips, rose 23.08 points to finish at 1,397 and the DSE Shariah Index advanced 17.53 points to close at 963.
Turnover, another important indicator of the market, stood at Tk 3.71 billion on the country’s prime bourse, which was 42 per cent higher than the previous day’s turnover of Tk 2.62 billion.
Most of the shares remained stuck at the trading. Of the issues traded, 172 remained unchanged while 116 issues advanced and 58 declined on the DSE floor.
A total number of 79,599 trades were executed in the day’s trading session with a trading volume of 7.48 million shares and mutual fund units.
The market-cap on the premier bourse also rose to Tk 3,217 billion on Sunday, from Tk 3,175 billion in the previous session.
Beximco Pharma topped the turnover chart with shares worth Tk 200 million changing hands, closely followed by Square Pharma, Grameenphone, BATBC and Pioneer Insurance.
Pragati Insurance was the day’s best performer, posting a gain of 13.81 per cent following its corporate declaration while Shympur Sugar Mills was the worst loser, losing 7.48 per cent.
The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—soaring 127 points to close at 11,749 and the Selective Categories Index - CSCX –rising 78 points to finish at 7,122.
Of the issues traded, 75 gained, 29 declined and 98 remained unchanged on the CSE.
The port city bourse traded 2.75 million shares and mutual fund units with turnover value of Tk 78 million.