DSEX exceeds 5,100-mark riding on large-cap stocks

December 13, 2020 16:09:33

Stocks extended the winning streak with the core index of the Dhaka Stock Exchange (DSE) hitting 16 months high on Sunday riding on regulatory moves and gradual improvement of economic activities.

DSEX, the key index of the Dhaka Stock Exchange (DSE), went up by 31.76 points or 0.62 per cent to settle at 5,126. It was the highest level of DSEX since August 28, last year.

Two other indices also ended higher. The DS30 index, comprising blue chips, soared 23.59 points to finish at 1,798 and the DSE Shariah Index rose 11.09 points to close at 1,180.

Turnover, a crucial indicator of the market, also hit nearly one month high to Tk 10.03 billion, which was more than 7.15 per cent higher than the previous day’s turnover of Tk 9.36 billion.

Market operators said the investors’ enthusiasm sustained, as the institutional investors, including global fund managers, were putting fresh stakes on large-cap stocks amid positive expectation.

The bargain hunters continued their buying appetite on sector-specific large-cap issues amid growing confidence riding on regulatory moves and gradual improvement of economic activities, they said.

The regulator is continuing its effort to enhance the market depth through listing of large-cap companies having good fundamentals and the news that some big companies are waiting for necessary approval for listing, also tempted the investors to stay afloat, he said.

Top positive index contributors of the market were Walton, BATBC, Renata, Grameenphone and Berger Paints —jointly accounted for more than 22 points to DSEX, according to data of amarstock.com, a stock market data analyst.

Losers, however, took a modest lead over the gainers, as out of 356 issues traded, 153 ended lower, 141 higher and 62 issues remained unchanged on the DSE trading floor.

A total number of 190,466 trades were executed in the day’s trading session with a trading volume of 422.95 million shares and mutual fund units.

IFIC Bank topped the turnover chart with 54.34 million shares worth Tk 672 million changing hands, followed by Beximco Pharma, Beximco, Rupali Insurance, Fortune Shoes and City Bank.

Makson Spinning Mills was the day’s best performer, posting a 10 per cent gain while Keya Cosmetics was the worst loser, losing 10.26 per cent following its disappointing dividend declaration news.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—gaining more than 83 points to close at 14,686 while the Selective Categories Index – CSCX advancing 55 points to close at 8,844.

Of the issues traded, 122 declined, 101 advanced and 54 remained unchanged on the CSE.

The port city bourse traded 18.76 million shares and mutual fund units with turnover value of nearly Tk 353 million.

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