Record breaking run at DSE continues

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FE Report
Stock prices continued to surge amid buying and selling onslaught Sunday on the Dhaka Stock Exchange (DSE) setting new records in turnover and indices.
The market seesawed throughout the session as the investors booked profit on financial stocks while betting on energy, pharmaceuticals, cement and Beximco Group issues have helped it finish slightly higher.
Gradual entry of the undisclosed money and intensive trading in energy stocks led the market to reach a fresh high both in index and turnover, analysts said.
The daily turnover for the first time crossed Tk 13.0 billion-mark on the DSE. It closed at Tk 13.24 billion, up more than 20 per cent over the previous session.
Earlier, the highest turnover on the DSE was recorded at Tk 12.45 billion on October 20 of the immediate past year.
The benchmark DSE General Index (DGEN) ended at 4730.74, which is an all time high, with a slight gain of 8.64 per cent or 0.18 per cent.
The broader All Shares Price Index (DSI) gained 13.03 points or 0.67 per cent to finished at 3917.69 while DSE-20 comprising blue chip index moved up 18.52 points or 0.67 per cent to 2763.04.
"Infiltration of undisclosed money and acute trading activity in power sector led to break record," said Ahmed Rashid, former senior vice president of DSE.
In the current budget, the government has allowed people to invest undisclosed but legally earned money in the stock market for one year. The budgetary advantage will expire by June this year.
"Sale on profit taking and buying on fundamental stocks went through the market, which is a mature behaviour for a market," Rashid said