Dhaka Stock Exchange (DSE) on Sunday extended its gaining streak for the fourth consecutive session owing to the continuous buy dominance of buoyant investors following the rebounding market participation.
The key index of the country’s prime bourse, DSEX, gained 61.38 points, or 1.12 per cent, on Sunday and closed at 5,558.94, which was the highest in nearly two months.
Meanwhile, the market turnover also hit the Tk 900 crore mark at the end of trading. Turnover surged by 17.9 per cent to Tk 908 crore from the previous session’s Tk 770 crore.
Most of the large-cap sectors posted positive performances on the day as well. Food and Allied booked the highest gain of 3.21 per cent. The block trades contributed 9.7 per cent of the overall market turnover.
Sea Pearl Beach Resort & Spa Limited was the most traded share with a turnover of Tk 34.6 crore.
Market insiders said that the news that the government may allow government servants to trade in the share market, a reversal of a decades-old rule, boosted the investors’ confidence.
The public administration ministry recently sent a draft amendment to the Government Servants (Conduct) Rules, 1979, to the law ministry, which vetted and returned it, sources said.
The blue-chip index, DS30, and the Shariah-based index, DSES, also closed at 1,964.49 and 1,214.83 points, respectively, on Sunday.
Seventeen sectors out of 19 were gainers and two sectors were on the losing side. Of the 398 scrips traded, 305 advanced, 69 declined and 24 remained unchanged on the Dhaka bourse.
On Thursday, DSEX had gained 123.72 points, or 2.30 per cent, and closed at 5,497.56, a record jump in the last two years. Also, market turnover had increased by 42.9 per cent to Tk 770 crore from the previous session’s Tk 540 crore.
Dhaka stocks observed a sharp upturn owing to increased investor participation riding on rebounded optimism across the trading floor, along with some fresh fund injections following the refund amount of the latest IPO subscription hitting investor portfolios.
The market recovery has been aided by continuous price appreciation in the majority of stocks as investors kept on chasing quick rallies owing to heightened optimism across the trading board, said EBL Securities in its daily market review.
However, a portion of investors opted for profit booking since they preferred to observe the sustainability of the current upbeat vibe in the market.
According to the Royal Capital Financial Portal, BATBC and Square Pharma contributed the most to the gains and the losses of the DSEX index on Sunday, respectively, and the bull took over the market control at 10:30am and onward.
The SME index, DSMEX, decreased by 7.9 points, and the market generated a Tk 9 crore turnover, a 28 per cent increase from the previous session.
Meanwhile, the Chittagong Stock Exchange (CSE) also settled on green terrain on Sunday, with the selected indices, CSCX, and All Share Price Index, CASPI, rising by 145.5 and 249.5 points, respectively.
