Dhaka stocks end week in positive note

The Dhaka Stock Exchange has completed another session in gaining streak as investors continued pouring fresh fund amid the persistent bull run of the market.

The benchmark index – DSEX – rose by 31 points to settle at 7,228 on the day.

At the same time, the Shariah index – DSES – advanced 8 points and settled at 1,577 while the blue chip index – DS30 – gained 25 points and stood at 2,647 on Thursday, the last trading session of the week.

Keeping similar pace with indices, the daily turnover also increased to Tk 2,171 crore, up by Tk 59.93 crore from that of the previous day.

A total of 365 issues were traded at the Dhaka bourse on the day, of which, 127 advanced, 208 declined, and 30 remained unchanged.

Among major sectors, Tannery, Travel & Leisure and Miscellaneous sectors experienced price appreciation while Engineering, NBFI and Textile sectors faced correction.

EBL Securities, in its daily market commentary, said the equity indices of DSE continued the upward stream as investors continued pouring fresh fund given the positive outlook of the capital market amidst the persistent bull run of the market.

The gains in the benchmark indices were led by recent price appreciation of BEXIMCO and Beximco Pharma stocks while the large cap Bank sector observed correction on the day, it said.

Market insiders said that the indices retained upward trend for the second day as investors indulged in bargain hunting given the positive nod from the finance ministry regarding the stabilization fund.

Finance Minister AHM Mustafa Kamal on Tuesday endorsed the securities regulator’s stance.

He said, “The BSEC decision is a government decision. I don’t believe that the securities regulator will do anything bypassing government decision.

Earlier on Monday, the 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 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.

Primarily, the size of the fund would be over Tk 21,000 crore, depending on the size of unclaimed dividends of the listed companies.

Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also ended in green terrain.

At the bourse, the selected indices (CSCX) and All Share Price Index (CASPI) advanced by 86.1 points and 139.1 points respectively.