The prime index of the Dhaka Stock Exchange (DSE) crossed the 4,300-mark on Wednesday after five months as optimistic investors continued their buying binge on selective issues riding on new hopes.
DSEX, the key index of the DSE, went up by 8.04 points or 0.18 per cent to settle at 4,307 during the four hours trading.
DSEX added more than 231 points in the past nine consecutive sessions.
Market operators said the expansionary monetary policy statement; gradual reopening of the economy coupled with no major spike in daily Covid-19 infected cases prompted the investors to take position in sector-wise stocks.
The Bangladesh Bank recently unveiled an expansionary monetary policy for current fiscal year lowering borrowing costs to boost up the money flow for revamping the pandemic-hit economic activities, particularly private sector credit growth and the country’s ailing capital market.
The investors hoped that the announced monetary policy statement would rejuvenate the battered economy and persuade institutional investors to pour money into the capital market, said a merchant banker.
The securities regulator’s hard stance on ensuring mandatory 2.0 per cent shareholding by each director of listed companies had also a positive impact on the stock prices in recent times, he said.
Turnover, another important indicator of the market, stood at Tk 7.18 billion on the country’s prime bourse, which was 6.21 per cent lower than the previous day’s turnover of Tk 6.76 billion.
Two other indices, however, closed in the red. The DS30 index, comprising blue chips, shed 2.47 points to finish at 1,452 and the DSE Shariah Index lost 2.38 points to close at 997.
Of the issues traded, 155 advanced, 123 declined and 74 issues remained unchanged on the DSE floor.
A total number of 152,753 trades were executed in the day’s trading session with a trading volume of 278.66 million shares and mutual fund units.
The market-cap on the premier bourse also rose to Tk 3,318 billion on Wednesday, from Tk 3,312 billion in the previous session.
Pioneer Insurance topped the turnover chart with shares worth Tk 285 million changing hands, closely followed by Bangladesh Submarine Cable Company, Beximco and Indo-Bangla Pharma.
Bangladesh Submarine Cable Company was the day’s best performer, posting a gain of 10 per cent while Samata Leather Complex was the worst loser, losing 5.85 per cent.
The Chittagong Stock Exchange (CSE) also edged higher with its All Shares Price Index (CASPI)—gaining 43 points to close at 12,230 and the Selective Categories Index - CSCX –advancing 25 points to finish at 7,410.
Of the issues traded, 113 gained, 90 declined and 61 remained unchanged on the CSE.
The port city bourse traded 8.74 million shares and mutual fund units with turnover value of Tk 174 million.