Dhaka bourse investors witnessed a magical day on the day of the transformation of power to the interim government over the expectation of good governance in the capital market.
DSEX, the key index of the Dhaka Stock Exchange (DSE), charged up by 306 points — highest ever jump in a single day — and settled at a 4.5-month high of 5,925 points on Thursday, going up from the previous trading session’s 5,619.
After the fall of the Sheikh Hasina-led Awami League government on August 5, stock market indices have only been climbing.
On Thursday, market turnover increased by 107.1 per cent to an around six-month high of Tk 1,606 crore, up from the previous session’s Tk 775 crore.
Market insiders said the market rally was largely supported by fundamentally strong stocks, as recent developments in the country's political landscape boosted investors' confidence.
They said that the market said investors are showing a buying appetite from the very beginning of the session, hoping for political stability shortly after Sheikh Hasina stepped down from the position of prime minister and fled the country on Monday.
Out of the 397 issues traded, 362 advanced, 26 declined and nine remained unchanged at DSE.
The blue-chip index, DS30, and the Shariah-based index, DSES, closed at 2,132.73 and 1,274.91 points, respectively. All the large-cap sectors posted positive performances on the day.
All sectors out of 19 were the gainers. City Bank topped the turnover chart. EBLNRBMF was the top gainer while GEMINISEA was the top loser. Four stocks were traded at the floor price.
In the block market, shares of Tk 20.5 crore were transacted, representing a turnover of 1.28 per cent. The SME index, DSMEX, increased by 17.75 points and the market generated a Tk 12.5 crore turnover, a 26 per cent decrease from the previous session.
According to the Royal Capital Financial Portal, SQURPHARMA and RENATA contributed the most to the gains and losses of the DSEX on Thursday, and bullish conditions prevailed in the market from the start.
EBL Securities in its daily review said that the upward rally in the capital market continues as the relentless buying spree remains prevalent across the trading floor, riding on the rebounded optimism owing to positive expectations over the changes in the country’s political environment.
The indices maintained an upward trajectory with increased market participation throughout the session, as most scrips saw significant price appreciation driven by investors perceiving attractive investment opportunities amid the sustained uptrend, it said.
The Chittagong Stock Exchange (CSE) also settled on green terrain on Thursday. The selected indices, CSCX, and All Share Price Index, CASPI, surged by 522.1 and 861.5 points, respectively.
Of the issues traded, 31 declined, 244 advanced, and 10 remained unchanged on the CSE.
The port city bourse traded 8.628 million shares and mutual fund units with a turnover value of Tk 22.69 crore.
