The Financial Express

Stocks extend rally to set new records

| Updated: September 04, 2021 10:01:13

Stocks extend rally to set new records

Stocks extended the winning streak for the two straight sessions on Wednesday with all indices and market-cap of the prime bourse setting at new highs thanks to increased participation of the investors.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 47.14 points or 0.68 per cent to settle at 6,916–the highest since its inception more than eight years back on January 27, 2013.

Two other indices--the DSE 30 Index and the DSE Shariah Index (DSES) -- followed the suit to close at new highs of 2,474 and 1,495, after gaining 20.77 points and 5.37 points respectively.

The market capitalisation of the prime bourse also hit a fresh all-time high at Tk 5,600 billion on Wednesday, surpassing the previous high of Tk 5591 billion recorded just four sessions back.

Turnover, another important indicator of the market, stood at Tk 23.66 billion on the country’s premier bourse, which was 5.20 per cent higher than the previous day’s tally of Tk 22.49 billion.

Market analysts said stocks extended their rally as buoyant investors are putting fresh bets on major stocks anticipating positive momentum ahead riding regulatory moves.

The Bangladesh Bank has asked all the scheduled banks to submit information regarding investment in the capital market from their special fund monthly instead of quarterly as was earlier.

Besides, the Bangladesh Securities and Exchange Commission (BSEC) approved the revised public issue rules, extending the general investors quota to 70 per cent in the initial public offering, which encouraged the investors to the market, said a merchant banker.

Gainers took a modest lead over the losers, as out of 373 issues traded, 192 advanced, 149 declined and 32 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group-topped the turnover list with shares worth Tk 1.50 billion changing hands, followed by LafargeHolcim (Tk 982 million), GPH Ispat (Tk 806 million), Beximco Pharma (Tk 499 million) and BATBC (Tk 492 million).

Rangpur Foundry was the day’s top gainer, posting an almost 10 per cent rise while Prime Finance was the worst loser, losing 6.17 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index (CASPI) -- soaring 159 points to settle at a record high at 20,156 while the Selective Categories Index – CSCX rising 95 points to close at a new high at 12,081.

The market cap of the CSE also hit a fresh all-time high at Tk 4,831 billion on Wednesday, surpassing the previous high of Tk 4,825 billion recorded four sessions back.

Of the issues traded, 170 advanced, 124 declined and 26 remained unchanged on the CSE trading floor.

The port city’s bourse traded 30.53 million shares and mutual fund units with a turnover value of Tk 995 million.

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