Bangladesh
3 years ago

DSEX exceeds 5,300-mark after 18 months

DSE daily turnover surpasses Tk 15b-mark

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The core index of the Dhaka Stock Exchange (DSE) crossed the 5,300-mark on Sunday after 18 months as investors continued to put fresh stakes on large-cap stocks amid high hopes.

DSEX, the prime index of the DSE, soared 109.90 points or 2.10 per cent to settle at 5,328. It has been the highest since July 7, 2019.

The DSEX also saw the biggest single-day rise in five months on Sunday since August 9, this year when DSEX jumped 180 points or 4.13 per cent.

Turnover, a crucial indicator of the market, crossed Tk 15 billion-mark after six months since June 28 this year and amounted to Tk 15.29 billion, climbing further by 8.82 per cent over the previous day.

Shares of Robi Axiata surged further 50 per cent, the highest allowable limit, to close at Tk 22.50 on Sunday, the second session after debut.

A total number of 6,984 trades were executed in the second trading day with a trading volume of 4.93 million of Robi shares worth value of Tk 111.10 million, according to DSE statistics.

Total market-cap of DSE surged Tk 137 billion to Tk 4,394 billion, hitting an all-time high on Sunday, riding on the biggest-ever issue Robi.

Market operators said spontaneous participation backed by high expectations lured the investors to put fresh stakes on the large-cap stocks as investors put a fresh bet on the market amid enthusiasm over Robi’s debut trading.

The investors’ enthusiasm sustained, as the institutional investors, including global fund managers, were putting fresh stakes on large-cap stocks amid high expectations, said a merchant banker.

He noted that factors like lower returns on the money market amid liquidity glut, hope for Covid-19 vaccine and strong regulatory actions against wrongdoers prompted sideline investors to put fresh funds on stocks.

Two other indices also ended higher. The DS30 index, comprising blue chips, soared 38.94 points to finish at 1,915 and the DSE Shariah Index rose 23.10 points to close at 1,226.

Gainers took a strong lead over the losers, as out of 362 issues traded, 238 advanced, 65 declined and 59 remained unchanged on the DSE trading floor.

A total number of 257,007 trades were executed in the day’s trading session with a trading volume of 523.14 million shares and mutual fund units.

Beximco continued to dominate the turnover chart with 26.71 million shares worth Tk 1.26 billion changing hands, followed by IFIC Bank, Beximco Pharma, Bangladesh Submarine Cable Company and LafargeHolcim.

Robi was also the day’s best performer, posting a gain of 50 per cent while Peoples Insurance was the worst loser, losing 6.72 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with its All Shares Price Index (CASPI)—soaring 370 points to close at 15,359 while the Selective Categories Index – CSCX rising 226 points to close at 9,262.

Of the issues traded, 184 advanced, 58 declined and 44 remained unchanged on the CSE.

The port city bourse traded 25.90 million shares and mutual fund units with a turnover value of more than Tk 685 million.

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