Stocks kept soaring with the key index of the Dhaka Stock Exchange (DSE) hitting two and a half months on Sunday amid growing investors’ confidence in the market.
The market started on a flying note and remained vibrant throughout the session amid strong buying pressure from the investors, including global fund managers.
Turnover, an important indicator of the market, stood at Tk 9.16 billion on the country’s premier bourse, climbing further by 25 per cent over previous day’s mark of Tk 7.30 billion.
It was the biggest single-day transaction in more than one year since February 14, 2019, when the turnover totaled a record Tk 9.32 billion.
Attuned to the rising turnover value, DSEX, the prime index of the DSE, continued to hold its soaring momentum, soaring 169.54 points or 3.71 per cent to settle at two months high at 4,734.
DSEX added 350 points in the past four consecutive sessions after the Bangladesh Bank issued circular confirming fund support to boost the ailing capital market.
Market analysts said the central bank’s fund supportive measures coupled with the government’s moves to divest shares of selected state-owned entities boosted investor’ confidence in the market.
The news that the Asian Development Bank has lent $170 million more to Bangladesh to assist the country’s ongoing capital market reforms also encouraged investors, said a leading broker.
Two other indices also ended higher. The DS30 index, comprising blue chips, rose 169.54 points to finish at 1,592 and the DSE Shariah Index soared 29.92 points to close at 1,045.
Gainers took a strong lead over the losers as out of 356 issues traded, 293 closed higher, 40 ended lower and 23 remained unchanged on the DSE trading floor.
A total number of 212,909 trades were executed in the day’s trading session with trading volume of 356.03 million shares and mutual fund units.
The market-cap of the DSE also rose to Tk 3,555 billion, from Tk 3,470 billion in the previous session.
LafargeHolcim topped the turnover chart with shares worth Tk 322 million changing hands, followed by Khulna Power, Bangladesh Submarine Cable, Bangladesh Shipping Corporation and Shepherd Industries.
Orion Infusion was the day’s best performer, posting a gain of 10 per cent while Alltex Industries was the worst loser, losing 7.86 per cent.
The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—soaring 533 points to close at 14,436 and the Selective Categories Index - CSCX –rising 325 points to finish at 8,758.
Here too, the gainers beat losers, as 214 issues closed higher, 37 ended lower and 17 remained unchanged on the CSE.
The port city bourse traded 15.65 million shares and mutual fund units worth Tk 300 million in turnover.
© 2020 - All Rights with The Financial Express