Bangladesh
3 years ago

DSE crosses 5900-mark again on buying spree

DSE market-cap hits all-time high as major stocks soar

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The benchmark index of the Dhaka Stock Exchange (DSE) crossed the 5,900-mark again on Thursday with its market-cap hit an all-time high as enthusiastic investors put fresh bets on stocks amid high hopes.

The market jumped at opening and the upbeat trend continued till the end of the session with sign of reversal led by major sector stocks.

DSEX, the prime index of the DSE Exchange (DSE), went up by 101 points or 1.71 per cent to settle at 5,985. DSEX added more than 198 points in the three consecutive sessions.

Turnover, a crucial indicator of the market, stood at Tk 23.68 billion on the country’s premier bourse, climbing further by 18 per cent over previous day’s mark of Tk 20.08 billion.

It happens to be the biggest single-day transaction in the last five months since January 17, when the turnover totalled a record amount of Tk 23.85 billion.

Market capitalisation of DSE stood at an all-time high at more than Tk 5.03 trillion thanks to increased investor participation.

Market operators said investors started coming back to the stock market in the last few months since many stocks have become lucrative amid the pandemic driven index fall.

The investor enthusiasm sustained as institutional and foreign investors remained active on the market amid easing virus worries, taking the market-cap to an all-time high, said a leading merchant banker.

Investors are relentlessly taking part in the stock market with fresh funds to enjoy the existing tax benefits ahead of closure of the current fiscal year, he said.

He noted that easing virus worries and better than expected quarterly earning disclosures also boosted the investors’ confidence in the market.

Two other indices also ended higher with the DSE 30 Index, comprising blue chips, rose 19.48 points to finish at 2,189 and the DSE Shariah Index (DSES) advanced 14.41 points to close at 1,285.

Gainers took a modest lead over the losers, as out of 364 issues traded, 163 advanced, 143 declined and 58 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- continued to dominate the turnover chart with shares worth about Tk 961 million changing hands, followed by Prime Bank (Tk 691 million), IFIC Bank (Tk 604 million), LankaBangla Finance (Tk 568 million) and Northern Insurance (Tk 514 million).

Northern Insurance was the day’s top gainer, posting a 9.98 per cent gain while Shympur Sugar Mills was the worst loser, losing 7.0 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 277 points to settle at 17,347 and the Selective Categories Index – CSCX rising 168 points to close at 10,454.

Of the issues traded, 140 advanced, 125 declined and 32 issues remained unchanged on the CSE.

The port city’s bourse traded 51.78 million shares and mutual fund units with turnover value of Tk 1.04 billion.

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