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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Stocks keep soaring amid rising confidence

DSE daily turnover crosses Tk 13b-mark


| Updated: September 13, 2020 18:56:21


Stocks keep soaring amid rising confidence

Stocks ended higher on Sunday amid rising turnover as optimistic investors continued their appetite on large-cap issues, driven by regulatory moves and resumption of economic activities.

DSEX, the prime index of the Dhaka Stock Exchange, went up by 82.76 points or 1.65 per cent to settle at 5,094, which is the highest level of DSEX in more than a year since August 29, 2019.

Analysts said the market has been rising due mainly to the growing confidence in the new commission that has taken some steps against wrongdoers while lucrative price level of securities and resumption of economic activities lured sideline investors to put fresh funds on stocks.

The stock market regulator continued with its tough stance on gamblers and came up with a number of conditions for junk stocks and slapped big fines on several companies as part of the clampdown on the wrongdoers.

Two other indices also ended higher. The DS30 index, comprising blue chips, soared 16.65 points to finish at 1,756 and the DSE Shariah Index rose 12.13 points to close at 1,170.

Turnover, a crucial indicator of the market, stood at Tk 13.29 billion on the country’s premier bourse, climbing further by 30 per cent over the previous day’s turnover of Tk 10.24 billion.

Gainers outnumbered the losers, as out of 357 issues traded, 226 closed higher, 106 ended lower while 25 issues remained unchanged on the DSE trading floor.

A total number of 254,813 trades were executed in the day’s trading session with a trading volume of 531.05 million shares and mutual fund units.

The market-cap on the premier bourse also jumped 1.50 per cent to Tk 3,846 billion on Sunday, from Tk 3,789 billion in the previous session.

The pharmaceuticals sector continued to dominate the turnover chart with Beximco Pharma topped the turnover chart with shares worth Tk 590 million changing hands, followed by Beximco, IFIC Bank, Brac Bank and Orion Pharma.

The City Bank was the best performer, posting a gain of 10 per cent while Hakkani Pulp & Paper was the worst loser, losing 5.99 per cent.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—soaring 239 points to close at 14,534 and the Selective Categories Index – CSCX rising 133 points to close at 8,736.

Of the issues traded, 177 gained, 85 declined and 25 remained unchanged on the CSE.

The port city bourse traded 24.62 million shares and mutual fund units with turnover value of Tk 480 million.

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