DSEX crosses 6,100-mark after 41 months

FE ONLINE REPORT | Monday, 21 June 2021

The benchmark index of the Dhaka Stock Exchange (DSE) crossed the 6,100-point mark on Monday.

DSEX, the prime index of the DSE, rose 56 points or 0.92 per cent to settle at 6,125. It was the highest level of DSEX in nearly 41 months since January 30, 2018, when DSEX was 6,127.

The market capitalisation of the DSE also soared to an all-time high at Tk 5,130 billion on Monday, snapping the previous high of Tk 5,099 billion recorded a week earlier on June 10.

Turnover, a crucial indicator of the market, jumped to Tk 20.43 billion on the country’s premier bourse, in a further increase by 11 per cent over the previous day’s tally of Tk 18.35 billion.

Market experts said investors welcomed the floor price withdrawal decision, describing it as a time-befitting move.

The country’s stock market returned to the standard price movement system, as securities regulator lifted floor prices of all listed securities, set earlier to contain abnormal price fall amid the Covid-19 pandemic.

“The floor price disrupts the normal trading activities. So, it has been reasonable to remove the floor price,” said a leading broker.

Budgetary measures, lower returns on the money market and regulatory reforms also encouraged investors to park fresh funds on stocks, he said.

Gainers took a strong lead over the losers, as out of 372 issues traded, 224 advanced, 119 declined, 29 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- topped the turnover chart with shares worth Tk 1.12 billion changing hands, followed by Malek Spinning (Tk 638 million), National Feed Mills (Tk 607 million), Makson Spinning (Tk 574 million) and Fortune Shoes (Tk 505 million).

Alif Industries was the day’s top gainer, posting a 9.91 per cent gain, while Sea Pearl Beach was the worst loser for the two consecutive days, losing further by 9.89 per cent.

A total of 291,726 trades were executed in the day’s trading session with a trading volume of 634.02 million shares and mutual fund units.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –soaring 178 points to settle at 17,762 and the Selective Categories Index – CSCX rising 106 points to close at 10,689.

Of the issues traded, 195 advanced, 96 declined, 18 remained unchanged on the CSE.

The port city’s bourse traded 29.54 million shares and mutual fund units with a turnover value of Tk 794 million.

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