Stocks witnessed a steep rise in the early trading on Sunday, the first trading day of 2021, as investors are putting a fresh bet on the market amid high hopes in the New Year.
Following the previous year’s robust growth in index and turnover despite the Covid-19 pandemic, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on flying note amid rising turnover.
Within the first 30 minutes of trading, the DSEX rose more than 80 points while the CSE All Share Price Index (CASPI) of port city’s bourse jumped 247 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went up by 80.68 points or 1.49 per cent to stand 5,482 points at 10:30 am.
The country’s capital market passed 2020 with the robust return, compared to the bourses in the region, posting 949 points or 21.3 per cent gain, helped by large-cap stocks and supportive measures.
Market analysts said the investors kept their buying spree on major sector stocks amid high expectations in the New Year riding on regulatory efforts, the gradual traction in economic activities coupled with hope for the Covid-19 vaccine.
Two other indices also saw sharp rise till then. The DS30 index, comprising blue chips, advanced 51 points to reach 2,014 points and the Shariah Index (DSES) rose 19.42 points to stand 1,261 points till then.
The investors continued their buying appetite on sector-wise stocks amid growing confidence stemming from regulatory actions and the gradual traction in economic activities, said a leading broker.
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, he said.
He noted that the regulatory efforts to build a stable and vibrant capital market and enlistment of quality IPO’s in the market also tempted investors to stay afloat on the trading floor.
Turnover, another important indicator of the market, stood at Tk 4.72 billion within 30 minutes of trading when the report was filed at 10:30 am.
Of the issues traded till then, `209 advanced, 74 declined and 59 remained unchanged.
Beximco Pharma was the most traded stock till then with 4.40 million shares worth Tk 908 million changing hands, followed by Beximco, LankaBangla Finance, LafargeHolcim, and IFIC Bank.
The port city bourse – the Chittagong Stock Exchange – (CSE) also a big jump at opening with CSE All Share Price Index- CASPI-soaring 247 points to stand at 15,840, also at 10:30 am.
The Selective Categories Index – CSCX also rose 149 points to reach 9,552 till then.
Of the issues traded till then, 681 gained, 25 declined, and 14 issues remained unchanged with Tk 110 million in turnover.