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The bears took a break from the Dhaka Stock Exchange (DSE) on Wednesday as the key index continued to surge for the fourth straight session, with investors taking cues from the regulatory move.
The benchmark DSEX index closed at 6,300, after gaining 50 points or 0.81 per cent—its highest since July 17 when it was 6,304. In four days, it accumulated 318 points.
In the morning, the trading session kicked off in the green but shed some points just before closing.
Along with the key index, two junior indices also ended higher. The blue-chip index DS30 was up over 24 points or 1 per cent to 2,258 while the Shariah-based DSES index added 15 points or 1.13 per cent to 1,362.
EBL Securities in its post-market commentary noted that the market skyrocketed in the beginning riding on investors optimism resulting from the positive development from the finance ministry regarding the bank's exposure in the stock market investments.
However, the morning optimism faded a bit as some investors engaged in booking profits in the mid-session taking advantage of the past three day’s rise, it said.
Moreover, favorable regulatory actions along with the recent rise in remittance inflow, decline in imports and increase in export earnings have positively impacted the market psychology, it added.
The DSE turnover inched up by 1 per cent and stood at Tk 1,195 crore as against Tk 1,183 crore in the previous session.
Most of the sectors displayed mixed returns, out of which miscellaneous (2.7 per cent), bank (1.6 per cent) and financial institution (1.5 per cent) gained while ceramic (-1.7 per cent), travel (-1.3 per cent), and jute (-1.1 per cent) dropped on corrections.
Out of the 386 issues traded, 152 advanced, 162 declined, and 72 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 98.3 and 164.4 points respectively.
