DSEX reaches nearly one-year high

Stocks extended the gaining streak for the fifth straight sessions on Tuesday as investors continued their buying spree buoyed by the regulatory moves to restore discipline in the capital market.

DSEX, the core index of the Dhaka Stock Exchange, went up by 19.14 points or 0.38 per cent to settle at 4,978, which is the highest level of the index in nearly one year since September 23, 2019 when the DSEX was 5,000.

The DSEX added more than 116 points in the past five consecutive sessions.

Market operators said lower returns on the money market, gradual economic recovery, strong regulatory actions against wrongdoers and strict stance on mandatory shareholding rules continued to attract investors to put fresh funds on stocks.

The stock market regulator has taken a number of initiatives including restructuring the boards of ‘Z’ category companies for bringing positive changes in their operations, changed the definition of ‘Z’ category to ensure accountability of the companies.

The regulator also asked the mutual funds to disclose details of their investment in listed and non-listed securities in the quarterly reports to check anomalies in the sector.

Following such regulatory moves, the enthusiastic investors continued to show their buying appetite, especially for large-cap stocks, amid growing confidence on the market, said a merchant banker.

Meanwhile on the DSE, two other indices also closed higher. The DS30 index, comprising blue chips, advanced 10.32 points to finish at 1,734 and the DSE Shariah Index gained 7.52 points to close at 1,150.

Turnover, a crucial indicator of the market, crossed Tk 11.0 billion-mark once again and amounted to Tk 11.90 billion, which was 22 per cent higher than the previous day’s turnover of Tk 9.76 billion.

Losers, however, outnumbered the gainers, as out of 357 issues traded, 168 closed lower, 156 ended higher while 33 issues remained unchanged on the DSE floor.

A total number of 235,793 trades were executed in the day’s trading session with a trading volume of 400.65 million shares and mutual fund units.

The market-cap on the premier bourse rose to Tk 3,750 billion on Tuesday, from Tk 3,736 billion in the previous session.

The pharmaceutical sector continued to dominate the turnover chart with Beximco Pharma topped the turnover chart with shares worth Tk 658 million changing hands, followed by Beximco, Delta Brac Housing Finance Corporation, Orion Pharma and Brac Bank.

Fareast Knitting & Dyeing was the best performer, posting a gain of 10 per cent while Jute Spinners was the worst loser, dropping 9.98 per cent.

The Chittagong Stock Exchange also maintained gaining trend with its All Shares Price Index (CASPI) bagging 54 points to close at 14,219 and the Selective Categories Index (CSCX) advancing 30 points to close at 8,571.

Of the issues traded, 135 gained, 105 declined and 34 remained unchanged on the CSE.

The port city bourse traded 17.45 million shares and mutual fund units with turnover value of Tk 369 million.

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