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Stocks rebound strongly amid positive expectations

Published : 04 Dec 2021 10:16 PM | Updated : 05 Dec 2021 01:55 PM

Stocks witnessed rapid growth and came back strongly in the last week after breaking a big falling streak as investors bought more shares amid positive expectations.  

Besides, most of the investors were highly influenced by the contradictory statements from the securities regulator and the central bank over some policy matters, which prompted the finance ministry to arrange a coordination meeting on December 7, market experts said.

They expect that an effective meeting can bring a better outcome encouraged investors to put fresh funds on sector-wise stocks.

On the other hand, lower returns from the money market, budgetary measures and several regulatory reforms to build a vibrant capital market have kept the market afloat, they said adding that, many investors took an advantage to buy of lower price of shares as stocks fell for the previous several weeks.

However, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 84.11 points or 1.23 percent to close the week at 6,936, after declining 240 points in the previous week.

Besides, the DS30 index, comprising blue chips, increased by 33.07 points to settle at 2,636 and the DSE Shariah Index (DSES) rose 16.53 points to finish at 1,458.

The market capitalization of the DSE also increased by 1.23 percent to stand at Tk 5528.40 billion over the previous week.

The week's total turnover stood at Tk 50.40 billion on the DSE against Tk 63.06 billion in the previous week.

The daily average turnover decreased by 20 percent to stand at Tk 10.07 billion on the country's premier bourse than the previous week's average of Tk 12.61 billion.

Beximco topped the turnover chart with shares worth Tk 5.52 billion changing hands.

It was followed by ONE Bank, First Security Islami Bank, IFIC Bank and Delta Life Insurance.

The newly listed Sena Kalyan Insurance was the top gainer, posting a 60.15 percent gain while Aramit Cement was the worst loser, falling 21.20 percent.

On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) also saw rapid growth with its selective category index (CSCX) gaining 120 points in the last week to close at 12,180 points.

The All-Share Price Index (CASPI) of the CSE was higher by 196 points to close at 20,254 points.

Of the 339 issues traded, 153 advanced, 162 declined and 24 remained unchanged on the CSE floor.

The port city's bourse traded 85.42 million shares and mutual fund units with a turnover value of Tk 2.42 billion.

The port city's bourse traded 8.54 crore shares and mutual fund units with a turnover value of Tk 242 crore during the time.

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