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The prime index of the Dhaka Stock (DSEX) surpassed the 6,200-mark on Monday as buying support added strength to the equity indices despite worries over the virus-induced shock to the country’s economy.
The first session of the new fiscal year opened sharply higher as trading held three hours (10:00 am to 1:00 pm) in line with the banks during the stricter lockdown.
DSEX, the prime index of the DSE, went up by 69.45 points or 1.12 per cent to settle at 6,219, the highest in 42 months since January 7, 2018, when DSEX was 6,268.
The market capitalisation of the DSE also hit a fresh all-time high at Tk 5,173 billion on Monday, surpassing the previous day’s record high of Tk 5,142 billion.
Market experts said the investors are hopeful about the market as the government has kept the undisclosed money investment opportunity in the capital market in the new fiscal year and regulatory decision to keep the market open during the lockdown.
Removal of the floor price restriction from all listed securities, lower returns from the money market, budgetary measures and several regulatory reforms to build a vibrant capital market kept the market afloat, said a merchant banker.
Two other indices also ended higher with the DSE 30 Index, comprising blue chips, advanced 16.74 points to finish at 2,225 and the DSE Shariah Index (DSES) rose 11.96 points to close at 1,326.
Turnover, a crucial indicator of the market, stood at Tk 15.51 billion on the country’s premier bourse, climbing further by 10 per cent over the previous day’s mark of Tk 14.07 billion.
Gainers took a strong lead over the losers, as out of 373 issues traded, 243 advanced, 119 declined and 11 remained unchanged on the DSE trading floor.
Beximco - the flagship company of Beximco Group- dominated the turnover chart with shares worth about Tk 739 million changing hands, followed by ML Dyeing (Tk 373 million), Keya Cosmetics (Tk 361 million), Sandhani Life Insurance (Tk 284 million) and Makson Spinning Mills (Tk 275 million).
Khan Brothers PP Woven Bag Industries was the day’s top gainer, posting a 10 per cent rise while Monno Ceramic was the worst loser, losing 9.80 per cent.
The Chittagong Stock Exchange (CSE) also ended sharply higher with the CSE All Share Price Index – CASPI –soaring 240 points to settle at 18,035 and the Selective Categories Index – CSCX rising 141 points to close at 10,836.
Of the issues traded, 215 advanced, 71 declined and 18 issues remained unchanged on the CSE.
The port city’s bourse traded 27.86 million shares and mutual fund units with a turnover value of Tk 526 million.