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The market capitalisation of the Dhaka Stock Exchange hit a fresh all-time high at Tk 5,44,326 crore on Thursday, surpassing the previous day’s record high of Tk 5,41,562 crore as the market witnessed a massive turnover and positive index based on some positive news.
DSE insiders said investors have shown a buying spree in some selective sectors, including textile following reports of huge RMG orders.
On Thursday, DSE market cap jump to Tk 544,326 crore from Tk 506,622 crore on June 15.
Market capitalization, or market cap, is calculated by multiplying the total number of a company’s outstanding shares with the current market price of shares.
Stock market operators observed that rising of share prices of most of the companies reflected the overall market-cap at Dhaka bourse.
Out of the 374 issues traded, 242 advanced, 103 declined, and 29 remained unchanged on Dhaka bourse in the last trading session.
DSEX, the benchmark index of the DSE, took another leap to settle at the new historical high of 6,596 points with a gain of 0.92 per cent or 60.2 points against the last session on the bourse.
The stocks sustained the buying interest, which has led the key index to add 216 points over last 5 sessions, market insiders said.
At the day’s end, the DSES and DS30 added 14.74 points and 19.45 points respectively to their previous day’s level.
Moreover, the turnover advanced by 8.52 per cent to finish at Tk 2,512 crore, which is the highest in the last 56 days.
Market insiders said that the Dhaka stocks extended the gaining streak for the five consecutive sessions as the optimistic investors continued their buying spree amid optimism riding on the news that HSBC projects 6.2 per cent growth for Bangladesh in FY22 amid mass vaccination, remittance inflow, and a rise in exports of readymade garments.
On Wednesday, HSBC at a program, said that Bangladesh stock market deserves more attention as it holds opportunities for investors looking for diversification and hidden gems.
EBL Securities in its daily market commentary said that the bull run in the market has largely been aggravated by the participation of institutional investors while most of the participants are confident that the benchmark index will grow further based on the increased liquidity in the market.
Besides, in the last three consecutive sessions, the participation has been crossing the 2,000 crore-mark, which has been the key strength for the market to hold its firm position at the historically highest level, it said.
On the other hand, International Leasing Securities in its daily market commentary said that the investors are putting fresh bets on stocks, anticipating positive momentum in coming days after the Bangladesh Bank unveiled another expansionary monetary policy.
Engineering sector dominated the turnover chart covering 15.91 per cent of total turnover. Among major sectors, textile, travel & leisure and ceramics sectors experienced price appreciation while NBFI, bank and services and real estate sectors faced correction, said UCB Stock Brokerage Limited in its daily market commentary.
The investors’ activity was mostly centered on engineering (16 per cent), textile (15.9 per cent) and pharma (13.3 per cent) sectors while Beximco (5.1 per cent), Orion Pharma (3 per cent) and GPH Ispat (2.5 per cent) led the scrip wise turnover board on the day.
Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also ended in the green. The selected indices CSCX and All Share Price Index (CASPI) advanced by 101.4 points and 174.0 points respectively.
The turnover value of Tk 81 crore in the CSE. Out of the 325 issues traded, 206 advanced, 95 declined, and 24 remained unchanged on the port city bourse.
