The prime index of the Dhaka Stock Exchange (DSE) crossed the 4,500-mark on Sunday, after more than five months amid soaring turnover, as enthusiastic investors put fresh stakes on stocks.
DSEX, the key index of the Dhaka Stock Exchange, went up by 180 points or 4.13 per cent to settle at 4,545 during the four and a half hours trading.
DSEX added more than 468 points or 11.5 per cent in the past 11 straight sessions amid strong buying pressure from the gradual reopening of the economy.
Market insiders said gradual reopening of the economy, expansionary monetary policy coupled with securities regulator’s several initiatives to develop the market and punishment of some wrongdoers bring back the investors’ confidence to the market.
The country’s economy has been reopening gradually and some economic indicators are showing positive movements which eased concern among investors to some extent, said a merchant banker.
He noted that the economy was appeared to be saved from a catastrophic impact of Covid-19 outbreak that was predicted earlier, and if the spread of virus could be controlled, the economy would continue to bounce back.
A leading broker said thanks to the expansionary monetary policy declared by the central bank expecting that the increased money flow would help revive the economy from the Covid-19 fallout.
He noted that the securities regulator’s hard stance on ensuring mandatory 2.0 per cent shareholding by each director of the listed companies had also a positive impact on the stock prices in recent times.
Turnover, another important indicator of the market, crossed Tk 11.0 billion mark after more than one month and stood at Tk 11.28 billion on the country’s prime bourse, which was 35 per cent higher than the previous day’s turnover of Tk 8.36 billion.
Two other indices also ended higher. The DS30 index, comprising blue chips, jumped 64.45 points to finish at 1,540 and the DSE Shariah Index advanced 47.19 points to close at 1,058.
Of the issues traded, 293 advanced, 42 declined and 20 issues remained unchanged on the DSE floor.
As many as 217,288 trades were executed in the day’s trading session with a trading volume of 430.62 million shares and mutual fund units.
The market-cap on the premier bourse also rose to Tk 3,451 billion on Sunday, from Tk 3,336 billion in the previous session.
Square Pharma topped the turnover chart with shares worth Tk 441 million changing hands, closely followed by BATBC, Beximco Pharma, Singer Bangladesh and Bangladesh Submarine Cable Company.
Beacon Pharma was the day’s best performer, posting a gain of 9.94 per cent while Paramount Insurance was the worst loser, losing 6.70 per cent.
The Chittagong Stock Exchange also kept the gaining streak with its All Shares Price Index (CASPI) soaring 480 points to close at 12,882 and the Selective Categories Index (CSCX) rising 288 points to finish at 7,801.
Of the issues traded, 207 gained, 30 declined and 37 remained unchanged on the CSE.
The port city bourse traded 15.67 million shares and mutual fund units with turnover value of Tk 268 million.