DSEX, the key index of the Dhaka Stock Exchange (DSE), on Wednesday, extended its positive momentum for two consecutive trading sessions, reflecting investors’ buying appetite driven by favourable earnings from listed companies.
The key index gained 147.51 points, or 2.94 per cent and closed at 5,164.84. The blue-chip index DS30 and the Shariah-based index DSES closed at 1,915.86 and 1,136.21 points, respectively. All the large-cap sectors posted positive performance on the day.
However, market turnover increased by Tk 172 crore, reaching Tk 519 crore on the Dhaka bourse. EBL Securities said in its daily market commentary that its positive momentum for two consecutive trading sessions reflects investors’ buying appetite driven by favourable earnings and dividend declarations from listed companies amid anticipation of several stimuli from the regulator to revive investors' market sentiment.
Buyers continued showing their dominance across the trading floor today, bolstered by better-than-expected earnings and dividend declarations of the listed companies, it said. Anticipation of several policy supports from the regulator to enhance liquidity and reduce tax burdens further garnered the buying momentum, leading the benchmark index to settle in positive territory for two consecutive sessions.
Despite the market displaying recovery signs and attracting bargain hunters due to many stocks trading at significantly low levels, overall participation remains below par, and the sustainability of this upward trend is contingent on broader political and economic stability. All sectors out of 19 were the winners. Of the 398 scrips traded, 373 advanced, 15 declined, and 9 remained unchanged.
BRACBANK topped the turnover chart. CNATEX was the top gainer, whereas NEWLINE was the top loser. One stock was traded at the floor price. In the block market, shares of Tk 20 crore were transacted, representing a turnover of 3.87 per cent. The SME index, DSMEX, increased by 41.33 pts, and the market generated a Tk6 crore turnover, a 19 per cent increase from the previous session.
According to the Royal Capital Financial Portal, SQUARPHARMA and ISLAMIBANK contributed the most to the gains and the losses of the DSEX index on the day and the bullish conditions prevailed in the market from the start.
On the day, Finance Adviser Salehuddin Ahmad visited the Bangladesh Securities and Exchange Commission (BSEC) office in Dhaka. The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index - CASPI -advancing 330.27 points to settle at 14347.78 and the Selective Categories Index - CSCX gaining 192.83 points to close at 8720.77.
Of the issues traded, 175 advanced, 29 declined and 13 remained unchanged on the CSE. The port city’s bourse traded 2.58 million shares and mutual fund units with a turnover value of Tk 69.03 million. On Sunday, the BSEC formed a four-member inquiry committee to identify the reasons behind the recent market fall.
The members of the committee are Mohammad Shamsur Rahman, additional director of the BSEC; Muhammad Oarisul Hasan Rifat, deputy director of the BSEC; Mahfuzur Rahman, assistant general manager of the Dhaka Stock Exchange; and Kazi Minhaz Uddin, assistant general manager of the Central Depository of Bangladesh.
