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The premier bourse Dhaka Stock Exchange (DSE) sparked a rally on Tuesday, as investors’ confidence grew significantly following the recent market optimism that prevailed for a long period of time.
The DSEX, the benchmark index of the prime bourse, surpassed the 6,300-mark for the first time this year, making investors very optimistic take fresh bets to harness lucrative gaining opportunities.
The DSEX yesterday surged 24.5 points to settle at 6,306 against 6,282 in the previous trading session.
Earlier, the key index had reached the 6,300-mark in November last year.
Meanwhile, turnover, another crucial market indicator, outstripped the Tk 900 crore mark again on Tuesday.
The DSE turnover yesterday reached Tk 920 crore, which was 30.1 per cent higher than the turnover tally of Tk 707 crore in the previous session.
The market opened higher, and the upward momentum persisted throughout the session, as optimistic investors continued their chase for lucrative sector-specific issues in anticipation of quick gains, said EBL Securities, a stockbroker, in its daily market review.
The bank sector topped the turnover chart with a contribution of 12.4 per cent of the total turnover of the DSE, followed by life insurance (11.2 per cent) and pharma (10.8 per cent).
Bangladesh Shipping Corporation was the most traded stock with Tk 41 crore worth of its shares changing hands, followed by Eastern Housing Limited, and Navana Pharmaceuticals Limited.
Almost all the sectors displayed positive returns, with the jute posting the highest gain of 6.2 per cent, followed by travel (4.4 per cent) and cement (2.9 per cent).
On the other hand, the miscellaneous sector faced a slight correction of 0.2 per cent.
Chartered Life Insurance Company Limited topped the gainer’s list of the Dhaka bourse with a return of 9.9 per cent, while Jamuna Bank Ltd was the day’s worst sufferer with a loss of 7.9 per cent.
Out of the issues traded, 135 advanced, 36 declined and 221 remained unchanged.
The port city bourse, CSE, also settled on green terrain, with its two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – advanced by 35.4 points and 60.8 points respectively.
