Home ›› 08 Sep 2021 ›› Stock
DSEX, the key index of Dhaka Stock Exchange, on Tuesday crossed the 7,100-mark for the first time since its inception in 2013 as the buoyant investors put fresh bets on stocks riding on high hopes.
The key index gained 65.38 points or 0.92 per cent to settle at 7,140.8 points at the country’s premier bourse, while the market capitalization also stood at the historically highest level of Tk 5,80,005 crore.
At the same time, two other indices of the bourse also witnessed an upbeat trend with the DS30 index, comprising blue chips, gaining 37.31 points to reach 2,583 points and the Shariah Index DSES gaining 15.77 points to stand at 1551 points.
However, the daily turnover inched down by 1.22 per cent and stood at Tk 2,866 crore.
Out of the 374 issues traded at the DSE, 177 advanced, 167 declined, and 30 remained unchanged on the Dhaka bourse on the day.
EBL Securities, in its daily market commentary, said that the indices of the Dhaka bourse continued to scale new highs as in-line earnings growth of listed companies and positive regulatory stances lifted investors’ participation.
However, as the central bank strengthened its monitoring of banks' investments in stocks due to the recent rise, it may disseminate panic among investors causing a clutch in the dominant rally, it noted.
The British American Tobacco Bangladesh (BATBC), a large capitalised stock, observed stellar performance, which helped the market to ascend further, added the stock brokerage company.
International Leasing Securities also observed that the Dhaka stocks continued the bull-run for the sixth consecutive session as the bargain hunters sustained their buying appetite amidst enthusiastic participation.
On Tuesday, the market opened on a flying note and the upbeat trend continued till the end of the session as the cheerful investors put fresh bets on large-cap stocks, it said.
It also noted that the buoyant investors exerted their interest riding on the news that the private sector credit flow marked a positive growth for two months in a row on the back of the resumption of economic activities following the country-wide vaccine rollout.
The investors took position in food, telecom, financial institution, engineering, fuel & power, and pharma sector stocks which led the key index to cross 7,100 points mark.
However, some also booked quick gain and reshuffled their portfolios.
Recently, BSEC chairman said that the commission was working to ensure good returns for investors as well as good corporate governance in the market to regain their confidence in the stock market.
Market insiders said that the development tempted the investors to remain active on the trading floor on Tuesday, which pushed the index to add 65 points.
Apart from that, the securities regulator also approved the revised public issue rules extending the general investors quota in the initial public offering, which encouraged the investors to remain buoyant, they added.
According to the capital market analysts, the investors’ positive expectations towards the capital market remained persistent, primarily backed by favorable macroeconomic outlook and continuous efforts by the BSEC, which translated into rising market participation and much-needed confidence.
On the day, Beximco topped the turnover list, followed by BATBC, Summit Power, Saif Powertec, and LafargeHolcim.
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 82.9 points and 134.8 points respectively.
The turnover value of stood at Tk 104 crore at the CSE. Out of the 328 issues traded, 138 advanced, 152 declined, and 38 remained unchanged on the bourses.
