Home ›› 14 Mar 2022 ›› Stock
Bullish momentum prevailed at the Dhaka Stock Exchange on Sunday, pushing the benchmark DSEX index comfortably tossing the 6,700-level mark.
The market sentiment remained positive after a set of temporary regulatory measures to prevent the market crash from taking a cue from the Russia-Ukraine conflict.
The market staged a spectacular rally, adding over 97 points or 1.46 per cent to settle at 6,765. It extended the bull-run for the fourth consecutive session.
In four days, it gained nearly 300 points, recovering from 550 points shed since the beginning of the Russia-Ukraine conflict.
Two other junior indices—the Shariah-based DSES was up 17 points or 1.23 per cent to 1,453. The blue-chip DS30 index added 38 points or 1.57 per cent to 2,465.
Last week, 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 some other mechanisms for enhancing liquidity in the secondary stock market.
However, some investors still remained worried about the market’s sustainability due to rising inflation, currency devolution and falling remittances.
“Dhaka stock continued the bull-run as investors are putting fresh bets on lucrative issues after the extraordinary regulatory intervention from
the BSEC restored much-needed confidence on the bourse,” EBL Securities in a note.
Moreover, many investors preferred to stay on the sidelines for observing the market trend as concerns loomed due to rising inflation, depreciation of the currency, and decline of remittance, it said.
That’s why turnover declined by 5.9 per cent to Tk 999 crore as against Tk 1,061 crore in the previous session.
Sectors contributing to the performance included NBFI, cement, textile, telecommunications, textiles, and food and allied.
Shares of 380 companies were traded during the session. At the close of trading, 273 scrips closed in the green, 87 in the red, and 20 remained unchanged.
The port city bourse, CSE, also settled in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have advanced by 142.6 points and 238.1 points respectively.
