DSEX hits over 11-week high

DSEX, the benchmark of the Dhaka Stock Exchange, on Wednesday gained for the fifth straight session hitting more than an 11-week high.

At close, it gained over 24 points or 0.37 per cent to close at 6,457—its highest since June 9, 2022 when it was 6,480.

The market remained bullish as institutional investors pumped fund into stocks taking advantage of floor prices set by the regulator a few weeks back, dealers say.

The blue-chip index DS30 edged up 2 points or 0.17 per cent to 1,398 while the DSES index, which represents Shariah-based companies, rose about 4 points or 0.16 per cent to 2,283.

The rally was led by cement, travel & leisure and general insurance sectors. On the flip side, NBFI, textile and IT sectors faced correction.

The DSE turnover increased by 13.36 per cent to Tk 2,100 crore backed by textile sector that accounted for 18.94 per cent of the total turnover.

Fresh funds were injected by the institutional investors because of various factors such as the floor price, and calculating share purchases at cost prices by banks and financial institutions, said the market insider.

The equity indices of the capital bourse continued to propel for the fourth consecutive session as investors regained their confidence and continued to invest in the market, said EBL Securities in a note.

Some indication of slight mitigation in the possible pessimistic outlook of the economy, such as lowering fuel prices and stabilizing currency exchange rates, restore investors’ confidence regarding capital market and investors become enthusiastic with rising expectations, it said.

On the sectoral front, Textile (18.9 per cent) issues exerted the highest turnover followed by Pharmaceutical & Chemicals (13.6 per cent) and Engineering (11.5 per cent) stocks.

Among the sectors, Cement (4.9 per cent), Travel (3.6 per cent), and General Insurance (2.4 per cent) exhibited the highest returns, while Financial Institutions (-1.2 per cent), Textile (-0.6 per cent) and IT (-0.2 per cent) showed most negative returns.

Out of the 386 issues traded, 179 advanced, 135 declined, and 72 remained unchanged. The port city bourse, CSE, also, settled in positive territory. The selected indices (CSCX) and All Share Price Index (CASPI) marginally increased by 62.9 and 107.7 points respectively.