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The Dhaka Stock Exchange (DSE) observed another bullish session and witnessed the highest turnover in 11 years on Monday, amid the resumption of the economic activities despite the coronavirus threat.
The market turnover increased 11 per cent on the day to close at Tk 2,954 crore, the highest since December 2010.
At the same time, the key index of the Dhaka bourse, DSEX, took another leap to settle at the new historical high of 6,748 points with a gain of 0.73 per cent or 49.53 points, against the previous session on the bourse.
The Bangladesh Securities and Exchange Commission (BSEC) on Thursday allowed the investors to avail credit facilities as per the existing margin loan ratio until the benchmark index of the Dhaka bourse remains below 8,000 points.
The new directive has also played a vital role in taking the index up.
International Leasing Securities, in its daily market commentary, said that the DSE observed another bullish session on Monday as the investors continued their appetite on stocks as the government reopens all the sectors amid the coronavirus pandemic.
Though the market started with profit booking sell pressure, but buoyant investors exerted their enthusiasm riding on the securities regulator’s move to boost up the supply of liquidity in the capital market, it said.
The Dhaka bourse observed a superb session as the investors are putting fresh bets on stocks, especially on bank and financial institution sectors, amid reopening of the economic activities, market insiders said.
Besides, the market capitalisation of the bourse hit a fresh all-time high at Tk 5,49,052 crore on Monday.
At the day’s end, DSES and DS30 added 9.80 points and 0.05 points respectively to their previous day’s level.
Out of the 375 issues traded, 204 advanced, 146 declined, and 25 remained unchanged on Dhaka bourse on the day.
The investors' activity was mostly centered on textile (16.3 per cent), financial institution (14.6 per cent) and bank (13.1 per cent) sectors while BEXIMCO (5.2 per cent), AL Arfah Bank (3.8 per cent) and IFIC Bank (3.1 per cent) led the scrip wise turnover board on the day.
Meanwhile, financial institution (4.1 per cent), textile (3.1 per cent) and cement (2.1 per cent) sectors achieved price appreciation where general insurance (-1.7 per cent), life insurance (-1.7 per cent) and engineering (-1.3 per cent) witnessed price correction in the day’s session.
Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), ended in green terrain.
The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 75.54 points and 135 points respectively.
The turnover value stood at Tk 116 crore in the CSE. Out of the 320 issues traded, 170 advanced, 126 declined, and 24 remained unchanged on the bourses.
EBL Securities, in its daily market commentary, said that the investors have been taking a position in selective stocks, particularly in textile, bank and the financial institutions, with anticipated upward movement in the ongoing bullish market.
This ongoing buying rush is keeping the market buoyant as both the index and the turnover is surging, it said.
Moreover, confidence from the reopening of the economy and comparatively lower return from money market instruments have kept investors interested in the rallying capital market.
