DSEX extends gains to 3rd day

The benchmark DSEX index extended gains to a third straight day on Thursday amid buying across most sectors.

Temporary Regulatory measures boosted the market sentiment as investors looked past Russia’s attack on Ukraine, dealers say.

After crossing the 6,700-mark in the morning, DSEX rose 38 points or 0.57 per cent to settle at 6,668. In three days, it gained more than 200 points, recovering from 550 points shed since the beginning of the Russia-Ukraine conflict.

“The Dhaka Stock Exchange remained upbeat after several positive measures taken by the securities regulator,” said an analyst at a top brokerage firm.

Two other junior indices—the Shariah-based DSES moved up nearly 6 points or 0.41 per cent to 1,435. The blue-chip DS30 index added 9 points or 0.39 per cent to 2,425.

The consecutive rally attracted investors to take part in trading, helping the turnover to cross Tk 1,000-mark after more than two weeks. It stood at Tk 1,061 crore, marking an increase of 37.28 per cent compared to the last trading day.

The rally was led by banks, NBFIs, textiles, insurers and telecommunications. Individually, stocks that contributed positively were BATBC (7.25 points), Grameenphone (5.81 points), Beximco ( 4.44 points), UPGDCL ( 4.4 points), Beacon Pharmaceuticals ( 2.75 points) and Dutch Bangla Bank ( 2.24 points).

Beximco—the flagship company of Beximco Ltd—was the most traded stock, followed by Fortune Shoes, BDCOM Online, Bangladesh Shipping Corporation, Genex Infosys, Orion Pharmaceuticals, Union Bank, and Agni System.

Gainers outshined losers as out of 379 issues traded, 193 advanced, 147 declined and 39 remained unchanged.

To prevent the market crash, the BSEC asked the bourses to calculate the lower limit circuit breaker at 2 per cent and directed ICB to pump funds into the market from the stabilisation fund.

As part of the regulator’s series of measures, it also proposed three mechanisms for enhancing liquidity in the secondary stock market. The three mechanisms include the enhancement investment by banks with low exposure limit to stocks, faster formation of a Tk 200 crore special fund by the banks which are yet to do so as per earlier decision and speediest approval of perpetual bond and subordinate bond proposed by the banks to meet the regulatory requirement, according to a meeting between the BSEC and listed banks.