The Dhaka Stock Exchange (DSEX) touched a new milestone to surpass the 6,500-mark for the first. New market-supportive monetary policy helped push up the capital market and the prime index of the DSEX.
Despite coronavirus worries, the DSEX stood at 6,535 points for the first time on Tuesday, highest since its beginning in 2013 as investors showed buying spree on stocks.
Experts said stocks witnessed upward trend and extended rally for several weeks as investors put fresh bets on large-cap stocks, anticipating positive momentum in coming days after the Bangladesh Bank unveiled another expansionary monetary policy.
Many investors continued their buying spree on different sector securities as the DSEX climbed a record high almost every day, more investors joined the rally with an expectation of better returns from the bullish market, they added.
Besides, the regulatory decision to keep the market open during the lockdown has been taken positively and pushed the market up, they added.
They mentioned that many market-supportive measures including removal of the floor price restriction from all listed securities, lower returns from the money market, budgetary measures and several regulatory reforms to build a vibrant capital market has kept the market afloat.
However, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), increased by 54.30 points or 0.83 percent to close at 6535, the highest since its inception more than eight years back in 2013.
The DSE30 Index, comprising blue chips, increased 22.34 points to close at 2,366, also hits an all time high and the DSE Shariah Index (DSES) went up 12.46 points to close at 1,424.
The market capitalisation of the DSE stood a record high at Tk 5,414 billion on Tuesday, surpassing the previous day’s record high of Tk 5,378 billion.
Beximco topped the turnover list with shares worth Tk 1.09 billion changing hands.
It was followed by IFIC Bank (Tk 823 million), SaifPowertec (Tk 5446 million), Orion Pharma (Tk 400 million) and Genex Infosys (Tk 388 million).
CVO Petrochemicals Refinery was the day’s best performer, posting a gain of 9.91 percent while Peoples Insurance was the worst loser, losing 8.50 percent.
The turnover increased to more than two months high at Tk 23.14 billion on the country’s premier bourse, in a further buck by 5.75 percent over the previous day’s mark of Tk 21.88 billion.
Of the 375 issues traded, 178 advanced, 170 declined and 27 issues remained unchanged on the DSE trading floor during the time.
On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) also saw a rapid growth with its selective category index (CSCX) gaining 93 points to close at 11,411 points.
The All-Share Price Index (CASPI) of the CSE was higher by 155 points to close at 19,014 points.
Of the 326 issues traded, 165 advanced, 141 declined and 20 remained unchanged on the CSE floor.
The port city's bourse traded 3.68 crore shares and mutual fund units with turnover value of Tk 80 crore on Tuesday.
