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The Financial Express

Stocks’ record breaking rally continues on DSE

| Updated: August 10, 2021 10:14:44


Stocks’ record breaking rally continues on DSE

Dhaka stocks continued to break their previous records, as all three indices and market-cap of the prime bourse hit a new high on Tuesday.

Market experts said stocks kept their record-breaking rally as investors are putting fresh bets on stocks anticipating positive momentum ahead after the Bangladesh Bank unveiled another expansionary monetary policy.

DSEX, the core index of the Dhaka Stock Exchange, went up by 60.20 points or 0.92 per cent to settle at 6,596, the highest since its inception more than eight years back in 2013.

The DSEX was introduced on January 27, 2013, designed by Standard and Poor’s (S&P) based on the free-float method, replacing the then key index – DGEN. However, the all-time high DGEN was 8,918 recorded on December 5, 2010, when the market saw a bull run before a crash.

The blue-chip index DS30, a group of 30 prominent companies, also jumped 19.44 points to settle at 2,385 --- the highest since its inception on January 27, 2013.

The DSE Shariah Index also reached record highest at 1439, since its inception in January 2014, after gaining 14.73 points.

The market capitalisation of the DSE also hit a fresh all-time high at Tk 5,443 billion on Tuesday, surpassing the previous day’s record high of Tk 5,415 billion.

Turnover, a crucial indicator of the market, climbed to more than two months high at Tk 25.11 billion on the country’s premier bourse, in a further buck by 8.50 per cent over the previous day’s mark of Tk 23.14 billion.

Stocks climbed a record high every day and more and more investors joined the rally with an expectation of better returns from the bullish market, said a merchant banker.

The investors were putting fresh bets on large-cap stocks, anticipating positive momentum ahead as the Bangladesh Bank unveiled another expansionary monetary policy for this fiscal year, he said.

He noted that the institutional investors continued their buying binge as they hope the index will rise further as money flow in the banking sector may increase.

Gainers took a strong lead over the losers, as out of 374 issues traded, 242 advanced, 103 declined and 29 remained unchanged on the Dhaka bourse.

A total number of 349,347 trades were executed in the day’s trading session with a trading volume of 834.59 million shares and mutual fund units.

Beximco - the flagship company of Beximco Group-topped the turnover list with shares worth Tk 1.28 billion changing hands, followed by Orion Pharma (Tk 750 million), GPH Ispat (Tk 619 million), Malek Spinning Mills (Tk 517 million) and Saif Powertec (Tk 407 million).

CVO Petrochemicals Refinery was the best performer for the second straight day, posting a gain of 10 per cent while Asian Tiger Sandhani Life Growth Fund was the worst loser, losing 6.25 per cent.

The Chittagong Stock Exchange also ended sharply higher with its All Shares Price Index (CASPI)—soaring 174 points to finish at 19,188 while the Selective Categories Index – CSCX rising 101 points to close at 11,513.

Of the issues traded, 206 advanced, 95 declined and 24 issues remained unchanged on the CSE.

The port city bourse traded 39.96 million shares and mutual fund units with a turnover value of Tk 811 million.

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