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The Dhaka Stock Exchange (DSE) closed positive with an increase in turnover on Thursday amid the reopening of the economic activities despite the Covid-19 pandemic.
DSEX, the key index of DSE, took another leap to settle at the new historical high of 6,699 points with a gain of 1.14 per cent or 76 points against the previous session on the bourse on the day.
Daily turnover increased by 20.28 per cent to Tk 2,662 crore in the session. Textile sector dominated the turnover chart covering 17.79 per cent of the total turnover at the Dhaka bourse.
DSE market capitalisation hit a fresh all-time high at Tk 5,47,868 crore on Thursday, surpassing the previous day’s record high of Tk 5,44,719 crore.
The Dhaka stocks observed a superb session as investors were putting in fresh bets on stocks, especially on bank and financial institution sectors, after the reopening of the economic activities despite Covid-19 pandemic, said International Leasing Securities in its daily market commentary.
It also said that some other investors booked some quick gain and reshuffled their portfolios.
Market operators observed that rise of share prices of most of the companies reflected the overall market-cap at Dhaka bourse.
At the day’s end, DSES and DS30 added 14.96 points and 29.92 points respectively to their previous day’s level.
Among major sectors, NBFIs, textile and miscellaneous experienced price appreciation while general insurance, mutual funds and telecom sectors faced correction.
Of the total 376 issues traded, 209 advanced, 144 declined, and 23 remained unchanged on Dhaka bourse on the day.
The investors’ activity was mostly centered on textiles (17.8 per cent), financial institutions (13.6 per cent) and miscellaneous (12.2 per cent) sector while BEXIMCO (9.8 per cent), LankaBangla Finance (4.6 per cent) and IFIC Bank (2.9 per cent) led the scrip wise turnover chart.
Meanwhile, EBL Securities, in its daily market commentary, said investors have been relentlessly taking a position in selective stocks with upward potential in the prevailing bullish market, as a results, the buying rush is keeping the market buoyant.
Moreover, confidence from the reopening of the economy and lower return from money market instruments have kept investors interested in the rallying capital market, it said.
Market insiders said that the DSE 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.
Moreover, HSBC said the Bangladesh stock market deserves more attention as it holds opportunities for investors looking for diversification and hidden gems, they said.
Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also ended in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 138.8 points and 237.8 points respectively.
The turnover value of shares traded on Thursday is Tk 80 crore in the CSE. Out of the 323 issues traded, 192 advanced, 104 fell, and 27 remained unchanged on the bourse.
