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The Dhaka Stock Exchange witnessed a steep rise in its market capitalisation by gaining Tk 6,649 crore in the last two days.
On Monday, the market capitalisation of the Dhaka bourse hit a fresh all-time high to settle at Tk 5,56,370 crore, which was Tk 5,49,721 crore two sessions back on Thursday.
The latest figure was Tk 1,931 crore higher than that of the immediate past session.
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.
Meanwhile, DSEX, the key index of the DSE, rose 20.2 points or 0.29 per cent to settle at 6,862 points, the highest since its inception in 2013, on Monday.
On the day, the daily turnover increased by 2.53 per cent to stand at Tk 2,775 crore on the bourse. The fuel and power sector dominated the turnover chart covering 13.75 per cent of the total turnover.
EBL Securities, in its daily market commentary, said that the extended credit facilities till 8,000-mark of DSEX kept investors buoyant on sector-wise selective issues while regulatory approval to the board of capital market stabilisation fund made investors confident on the trading floor.
Analysts and market insiders observed that the investors gained confidence due to some punitive and reformative actions taken by the Bangladesh Securities and Exchange Commission to bring discipline in the market.
They also said that the investors’ buying rush continued riding on expectation for better returns from the bullish market against the lowering bank deposit rates.
Investors’ positive expectations towards the capital market remained persistent, primarily backed by favourable macroeconomic outlook and continuous efforts by the BSEC, which translated into rising market participation and much-needed confidence, the market insiders added.
The analysts also said that the new commission’s most notable work could be found in issues of market manipulation, mandatory shareholding by sponsor-directors and junk stocks, all of which gave confidence to retail investors to park their funds at the bourse.
On the day, DSES and DS30 added 7.60 points and 8.05 points respectively to their previous day’s level.
Out of the 376 issues traded, 166 advanced, 183 declined, and 27 remained unchanged on Dhaka bourse on the day.
Most of the sectors observed shining performance, out of which tannery (2.7 per cent), fuel & power (2.3 per cent), and life insurance (1.9 per cent) have exerted the most returns while services (-1.4 per cent), financial institute (-1.1 per cent) and ceramic (-1.0 per cent) observed corrections on the bourse.
Beximco topped the turnover list, closely followed by Power Grid Company, LafargeHolcim, IFIC Bank and LankaBangla Finance. Padma Life Insurance was the day’s top gainer, posting a 9.91 per cent rise while Stylecraft was the worst loser, losing 5.78 per cent.
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 46.8 points and 75.3 points respectively.
The turnover value at CSE was at Tk 101 crore. Out of the 330 issues traded, 154 advanced, 146 declined, and 30 remained unchanged on the bourses.
