Dhaka stocks hit new high
The broader index of the Dhaka Stock Exchange touched a new high of 6,900 points yesterday on the back of elevated trading activity as investors' positive sentiment outweighs worries stemming from the ongoing economic slowdown.
The DSEX hit the 6,900-point mark at around 1:07 pm and went on to rise to 6,904 points before falling marginally.
It, however, closed the day at 6,884, up 22 points, or 0.32 per cent, from a day earlier. This is the fourth consecutive daily gain.
The DSEX has been on an upward trend despite waves after waves of coronavirus infections, weaker than expected economic growth, and the slow pace of the vaccination programme.
The Dhaka stocks continued their record breaking rally as the investors are more confident and buoyant amid the regulator's approval for the first board of the much-expected Capital Market Stabilisation Fund, said International Leasing Securities Ltd in an analysis.
The fund will be used for the development of the stock market. The Bangladesh Securities Exchange Commission has already formed a board to run the fund.
Turnover, an important indicator of the market, fell 0.43 per cent to Tk 2,762 crore yesterday. The textile sector dominated the turnover chart covering 15.20 per cent of the total, according to UCB Stock Brokerage Ltd.
Among major sectors, tannery, ceramics and services, and real estate sectors experienced price appreciation while IT and cement sectors faced correction.
United Finance posted the highest gains of 10 per cent. IPDC Finance rose 9.97 per cent, Metro Spinning 9.9 per cent, Mozaffar Hossain Spinning Mills 9.91 per cent, and South Bangla Agriculture & Commerce Bank 9.91 per cent.
Regent Textile Mills, Janata Insurance, Aftab Automobiles, Standard Insurance, and Padma Islami Life Insurance were also among the top gainers.
Aziz Pipes gave up the most, declining 4.20 per cent. Jute Spinners, CVO Petrochemical Refinery, Sonargaon Textiles, Intech, ICB Islamic Bank, Power Grid Company, Mir Akhter Hossain Ltd, Index Agro Industries, and Desh Garments also lost significantly.
Beximco Ltd was the most-traded stock with its shares worth Tk 187 crore transacted. Other movers include Beximco Pharmaceuticals and Power Grid Company.
Of the issues, 213 advanced, 131 declined, and 32 ended the session unchanged.
In the port city, the CASPI, the key index of the Chattogram Stock Exchange, rose 68.23 points, or 0.34 per cent, to reach 20,065, the highest on record. On the CSE, 184 securities went up, 116 fell, and 25 were unchanged. Shares worth Tk 1,185 crore changed hands.