Stocks hit new record to cross 6500-mark

DSEX, the key index of the Dhaka Stock Exchange, has crossed the 6500-mark on Tuesday for the first time since its inception in 2013 as investors showed their buying appetite, especially on the bank sector.

The benchmark index went up by 54.30 points or 0.83 per cent to 6,535.87, setting a new record at the Dhaka bourse.

With a day difference, the turnover increased by 5.79 per cent to stand at Tk 2,315 crore at DSE as the investors took positions riding on new hopes of corona vaccine production in the country, announced by the government.

During the day’s trading, the engineering sector dominated the turnover chart covering 13.47 per cent of the total turnover.

Apart from that, IT, ceramics and bank sectors experienced price appreciation while general insurance, travel and leisure and textile sectors faced correction, the UCB Stock Brokerage Limited said in its daily market commentary.

On the day, other indices also ended higher with the DSES and DS30 added 12.46 points and 22.34 points respectively to their previous day’s level.

Out of the 375 issues traded, 178 advanced, 170 declined, and 27 remained unchanged on the DSE.

Beximco Limited topped the turnover list, followed by IFIC Bank, Saif Powertec, Orion Pharma and Genex Infosys.

On the other hand, CVO Petrochemicals Refinery was the day’s best performer, posting a gain of 9.91 per cent while Peoples Insurance was the worst loser, losing 8.50 per cent.

Among the major sectors-bank gained 2 per cent while engineering 1.9 per cent and financial institution 1 per cent sectors achieved price appreciation.

Meanwhile, general insurance downed 1.7 per cent, textile 0.8 per cent and telecom witnessed 0.2 per cent price correction in the day’s session.

The investors’ activity was mostly centered on engineering (13.5 per cent), textile (12.2 per cent) and bank sectors (10.8 per cent).

The port city bourse, Chittagong Stock Exchange (CSE), also ended in the green terrain.

The selected indices CSCX and All Share Price Index (CASPI) advanced by 93.8 points and 155.6 points respectively.

The turnover value of Tk 80 crore in the CSE. Out of the 326 issues traded, 165 advanced, 141 declined, and 20 remained unchanged on the

bourses.

International Leasing Securities in its daily market commentary said that the bargain hunters showed their buying spree especially on bank sector, based on the good latest quarterly earnings disclosures.

As a consequence, the stock market observed another buoyant session on Tuesday.

Apart from the bank sector, the opportunist investors were taking position in engineering, financial institutions, fuel-power and pharma sector stocks riding on the announcement of another expansionary monetary policy for the fiscal year 2021-22 by the central bank, which led the benchmark index to cross 6,500-mark for the first time since initiation, the stock brokerage company added.