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DSEX, the key index of Dhaka Stock Exchange on Wednesday rose 56 points or 0.78 per cent to close at 7,197 points as investors indulged in bargain hunting given the positive nod from the finance ministry regarding the stabilization fund.
Day’s turnover increased by 0.35 per cent to Tk 2,105 crore. NBFI sector dominated the turnover chart covering 18.93 per cent.
At the day’s end, DSES and DS30 added 12 points and 37 points respectively to their previous day’s level.
Out of the total 375 issues traded, 167 advanced, 153 declined, and 55 remained unchanged on the Dhaka bourse on the day.
UCB Stock Brokerage Ltd in its daily market commentary said, among major sectors, miscellaneous, tannery and NBFI sectors experienced price appreciation while engineering, general insurance and bank sectors faced correction.
The equity indices of DSE rebounded, shrugging off selling pressure seen in the previous session as investors indulged in bargain hunting given the positive approval from the regulator regarding the stabilization fund, EBL Securities in its daily market commentary said.
Gains in the key indices were led by considerable price appreciation of BEXIMCO Limited and Beximco Pharma stocks while the financial institution sector also contributed to the index to ascend the gain further, it said.
On the sectoral front, financial institutions (18.93 per cent), pharma & chemical (10.88 per cent), and engineering (9.51 per cent) issues were in most demand on the day.
Most of the sectors observed winning performance, out of which Jute (4.3 per cent), miscellaneous (3.2 per cent), and paper (3 per cent) have exerted the most positive returns while engineering (-2.3 per cent), general insurance (-1.3 per cent), and bank (-0.1 per cent) observed the most corrections on the day.
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 85.6 points and 144.0 points respectively.
The turnover value of Tk 72 crore in the CSE. Out of the total 317 issues traded, 126 advanced, 159 declined, and 32 remained unchanged on the bourse.
Finance Minister AHM Mustafa Kamal on Tuesday endorsed the securities regulator’s stance.
He said, “The BSEC (Bangladesh Securities and Exchange Commission) decision is a government decision. I don’t believe that the securities regulator will anything bypassing government decision.”
Earlier on Monday, Bangladesh Bank told the BSEC that banks and non-bank financial institutions are not allowed to transfer unclaimed or unsettled dividends to the capital market stabilisation fund as per the Bank Company Act, 1991.
On June 27, the BSEC published a gazette notification detailing the relevant rules - the Bangladesh Securities and Exchange Commission (Capital Market Stabilization Fund) Rules, 2021.
The fund will be governed by the board of governors of an 11-member team. The chairman will lead the team.
Primarily, the size of the fund would be over Tk 21,000 crore, depending on the size of unclaimed dividends of the listed companies.
