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DSEX crosses 6,000 points after 5 months

Daily turnover goes over Tk2,000cr mark after two years
Staff Correspondent
11 Aug 2024 23:18:36 | Update: 11 Aug 2024 23:18:36
DSEX crosses 6,000 points after 5 months

DSEX, the key index of the Dhaka Stock Exchange (DSE), rose to hit a five-month high on Sunday, crossing the 6,000-point mark and extending its momentum for the fourth successive day after the fall of the Sheikh Hasina-led Awami League government.

Market turnover also crossed over the Tk 2,000 crore mark after around two years, rising by 25.1 per cent to Tk 2,010 crore from the previous session’s Tk 1,606 crore.

DSE extended its gaining streak for four straight sessions, withstanding intraday volatility as investor euphoria continues with record-high market participation in nearly two years, driven by ongoing optimism surrounding recent changes in the country's political environment.

DSEX hit a single-day record, adding 786 points in four days after the fall of Sheikh Hasina.

The prime index went up by 91.09 points, or 1.54 per cent, to settle at 6,015.91 on Sunday, the first trading session of the week.

The DSE 30 Index, comprising blue chips, and the DSE Shariah Index, DSES, also gained 51.62 points to finish at 2,184.36 and 10.36 points to settle at 1,285.27, respectively.

Ten out of 19 sectors were the gainers, and nine sectors were on the losing side. Of the 398 scrips traded, 173 advanced, 207 declined and 20 remained unchanged at DSE.

GP topped the turnover chart, followed by BATBC, BRACBANK, ROBI and City Bank. POPULAR1MF was the top gainer while ICB3RDNRB was the top loser.

Two stocks were traded at the floor price. In the block market, shares of Tk 32.5 crore were transacted, representing a turnover of 1.62 per cent.

The SME index, DSMEX, decreased by 55.58 points and the market generated a Tk 17.3 crore turnover, a 39 per cent increase from the previous session.

According to the Royal Capital Financial Portal, BATBC and SQURPHARMA contributed the most to the gains and losses of the DSEX on Sunday, and the bull ultimately won on Sunday after a short fight in the mid-trading session.

Meanwhile, Shibli Rubayat-Ul Islam, chairman of the Bangladesh Securities and Exchange Commission, stepped down on Saturday night, five days after the fall of the Awami League government following a mass uprising.

On Thursday, DSE investors witnessed a magical day on the day of the transfer of power to the interim government over the expectation of good governance in the capital 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 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 last Monday.

Meanwhile, the Chittagong Stock Exchange (CSE) also settled on green terrain on Sunday, with the selected indices, CSCX, and All Share Price Index, CASPI, surged by 286.7 to close at 10,418.71 and 482.7 points to settle at 17,282.46, respectively.

Of the issues traded, 194 advanced, 86 declined and 15 remained unchanged at CSE.

The port city bourse traded 13.2 million shares and mutual fund units with a turnover value of Tk 30.89 crore.

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