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Despite ongoing Covid-19 pandemic, Dhaka Stock Exchange witnessed the highest turnover in 11 years on Monday as more investors joined the rally with an expectation of better returns from the bullish market.
The DSE turnover reached Tk 2,939 crore in the last session, which is 17 per cent higher than the previous day. This is the biggest single-day normal transaction since December 5, 2010, when the turnover hit a record of Tk 3,249 crore.
Meanwhile, DSEX, the key index of the Dhaka bourse, took another leap to settle at the new historical high of 6,628 points with a gain of 0.48 per cent or 32.06 points against the previous session on the bourse on Monday.
The stocks sustained the buying spree which has led the key index to add 216 points over last five sessions, market insiders said.
At the day’s end, the DSES, the Shariah index and DS30, the blue-chip index, added 12.76 points and 6.73 points respectively to their previous day’s level.
EBL Securities in its daily market commentary said that the central bank’s move to mop-up excess liquidity and rise of interest rate on term deposits made investors anxious on the bourse in the morning of the session.
However, the market held its firm position as buying spree added strength to the indices to close in green terrain, it said.
Market insiders also said that the Dhaka stocks extended the gaining streak for the six 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, robust remittance inflow, and a rise in exports of readymade garments.
Moreover, HSBC said the Bangladesh stock market deserves more attention as it holds opportunities for investors looking for diversification and hidden gems, they said.
International Leasing Securities in its daily market commentary said that the Dhaka stocks continued their record-breaking rally as the investors sustained their buying appetite based on quarterly earnings and year-end dividends amidst enthusiastic participation of the investors.
The trading time has been extended to normal four and a half hours from Monday after a limited scale trading for more than two months due to the alarming increase in coronavirus infection.
Out of the total 374 issues traded, 181 advanced, 173 dropped, and 20 remained unchanged on Dhaka bourse on the day.
The investors’ activities were mostly centered on engineering (16.3 per cent), textile (15.6 per cent) and pharma (14.1 per cent) sectors, while BEXIMCO (5.2 per cent), Orion Pharma (2.5 per cent) and IFIC Bank (2.1 per cent) led the script-wise turnover board on the day.
Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also closed in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 60.9 points and 101.4 points respectively.
The turnover value stood at Tk 128 crore in the CSE on Monday. Out of the total 321 issues traded, 157 advanced, 144 declined, and 20 remained unchanged on the bourse.
