Home ›› 17 Nov 2021 ›› Stock
Dhaka stocks witnessed sharp rise on Tuesday triggered by the credit facilities relaxed by the securities regulator.
The market cherished the news of the relaxing credit facilities and performed well after witnessing volatility over the last several sessions,
dealers say.
The trade kicked off with a jump and the momentum kept going at close led by mainly financial stocks.
The benchmark DSEX index gained 115 points or 1.65 per cent to 7,056—its highest since October 31, 2021 when it was 7,000.
The Shariah-based index rose 19 points to 1,484 while the blue-chip comprising DS30 index added 31 points or 1.19 per cent to 2,691.
On Monday, Bangladesh Securities and Exchange Commission (BSEC) allowed brokers to extend credit facilities to their clients based on PE ratio instead of providing margin loans based on the benchmark index. That means an investor will get 80 paisa against the investment of Tk 1 up to the level of the PE ratio. The new directive went into effect from Tuesday.
“The new move brought back some investors back to the market,” said a top broker.
Over the last few sessions, the market remained volatile with low volume of trade, forcing some investors to stay sideline, he added.
Banks continued to attract most investors as the sector surged 4.46 per cent, followed by NBFI 3.72 per cent, IT 3.12 per cent, cement 2.59 per cent, general insurance 1.59 per cent and pharmaceuticals 1 per cent. On the other hand, ceramic real estate over 2.16 per cent, travel and leisure 2.12 per cent, and jute 1.78 per cent.
Share of debutant Acme Pesticides—the agricultural product input makers and distributors---hit the almost upper limit circuit at 10 per cent for the third consecutive day.
Another newly listed Sena Kalyan Insurance Company also soared for the fifth session in a row. Its shares were also locked in the upper limit circuit.
Beximco was the most traded stock, followed by IFIC Bank, Square Pharmaceuticals, Beximco Pharmaceuticals, Orion Pharma, and Genex Info Says.
