Stocks end 2020 on a positive note

Stocks extended the winning streak for the sixth straight days on Wednesday, with key index crossing the 5,400-mark after 18 months, the last trading day of the year 2020.

DSEX, prime index of Dhaka Stock Exchange (DSE), went up by 43.80 points or 0.81 per cent to settle at 5,402. It has been the highest since June 30, 2019, when DSEX was 5,421.

DSEX added more than 304 points or 6.0 per cent in the past six consecutive sessions.

Total market-cap of the DSE surged to Tk 4,482 billion on Wednesday, recording a fresh all-time high every day, driven by the biggest-ever issue -Robi. The previous day’s market-cap was also a record high of Tk 4,442 billion.

Robi’s market capitalisation reached more than Tk 156 billion according to the Wednesday’s closing price.

Shares of Robi Axiata soared further by 9.96 per cent to close at Tk 29.80 on Wednesday, after a flying debut last week.

Turnover, a crucial indicator of the market, stood at Tk 15.83 billion on the country’s premier bourse, climbing further by 12 per cent over previous day’s turnover of Tk 13.83 billion.

Two other indices also closed higher. The DS30 index, comprising blue chips, soared 27.38 points to finish at 1,963 and the DSE Shariah Index rose 8.64 points to close at 1,242.

Market operators said the investors continued their buying appetite on sector-wise stocks amid growing confidence stemming from regulatory actions and the gradual traction in economic activities

As the Covid-19 vaccination has started in the major trade partners of Bangladesh, investors’ confidence strengthened as this indicates continued rebound of the global economy, said leading broker.

The stockbroker noted that regulatory moves to build a stable and vibrant capital market and enlistment of quality IPO’s in the market also contributed to the index reaching its highest point in 18 months.

The recent directive given by the prime minister to ministries to formulate another stimulus package and the regulator’s relentless efforts to buoy up the market kept the investors afloat, he said.

Losers, however, took a modest lead over the gainers as out of 362 issues traded, 165 advanced, 120 declined and 77 remained unchanged on the DSE trading floor.

A total number of 243,988 trades were executed in the day’s trading session with a trading volume of 507.41 million shares and mutual fund units.

Beximco continued to dominate the turnover chart with 21.52 million shares worth Tk 1.21 billion changing hands, followed by Beximco Pharma, LankaBangla Finance, IFIC Bank and Square Pharma.

FAS Finance was the day’s best performer, posting a gain of 10 per cent, while Rahima Food Corporation was the worst loser, losing 7.97 per cent.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—gaining 117 points to close at 15,592 while the Selective Categories Index – CSCX rising 70 points to close at 9,403.

Of the issues traded, 143 declined, 98 advanced and 47 remained unchanged on the CSE.

The port city bourse traded 22.81 million shares and mutual fund units with turnover value of more than Tk 711 million.

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