The Financial Express

Stocks’ record rally continues as bank shares shine

| Updated: October 23, 2017 08:17:57

Stocks’ record rally continues as bank shares shine

Dhaka stocks continued to break the previous records, as all three indices and market capitalisation of the prime bourse hit a record high Sunday.


Brokers said the market maintained the upbeat mood on support from large-cap stocks, especially banking issues, taking all indices and the market cap to the record highs.


The market opened positive in the morning, but the mid-session saw some sale pressure. Late hour heavy buying, especially of banking stocks, helped the market close higher.


Finally, DSEX, the core index of the DSE which replaced the DGEN in four-and-a-half-years back, settled at more than 6,240 points, after gaining 36.67 points or 0.59 per cent over the previous session. It was the highest level of DSEX since its inception on January 27, 2013.


The two other indices, the DS30 index and the DSE Shariah Index (DSES) -- followed the suit and maintained their record breaking rally, closing at historic highs of 2,227 and 1,391 points, after adding 1.43 points and 6.32 points respectively.


The DSE launched the DS30 index on January 27, 2013 with a base point of 1,460.30 while the DSE Shariah Index (DSES) was introduced on January 20, 2014 with a base point of 941.27.


Along with indices, the total market capitalisation of the DSE rose to all-time high at Tk 4,142 billion, exceeding the previous high of Tk 4,131 billion recorded in the previous session.


The market activities also rose to Tk 12.08 billion, which was 7.47 per cent higher than the previous day’s Tk 11.24 billion.


The loser, however, beat gainers as out of 330 issues traded, 151 closed lower, 138 lower and 41 remained unchanged on the DSE trading floor.


First Security Islami Bank topped the day’s turnover chart with shares worth Tk 462 million changing hands, followed by Al-Arafah Islami Bank, LankaBangla Finance, Argon Denims and City Bank.


Rupali Bank was the day’s best performer, posting a gain of 10 per cent while Standard Ceramic was the day’s worst loser, plunging by 6.06 per cent.


The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index - CSCX - gaining 58.50 points to close at 11,708 points.


Losers, however, beat gainers as 116 issues closed lower, 115 higher and 31 remained unchanged on the CSE.


The port city bourse traded 57.33 million shares and mutual fund units worth more than Tk 1.84 billion.



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