DSE sees biggest single-day gain this year

The prime index of the Dhaka Stock Exchange (DSE) registered a staggering 1.83 per cent gain Sunday, the biggest single-day gain in 2014 as the investors remained highly confident of the market's future outlook.
DSEX, the prime index of the DSE jumped 96.31 points or 1.83 per cent to close at the highest level since its inception on January 28, 2013.
Sunday's gain was also the biggest single-day gain in 2014.
The market started with a flying note and remained vibrant throughout the session amid strong buying pressure from the investors, including global fund managers.
The investors' attention was mostly concentrated on fuel and power, banks and textiles -- the sectors that accounted for 19 per cent, 17 per cent and 11 per cent respectively of the day's total turnover.
Market insiders attributed the current market trend to investors' growing confidence and fresh investment in the stock market.
Single digit interests on deposits, favourable economic factors and political stability are encouraging investors to make fresh investments, said a stock broker.
"The stock market witnessed the biggest single-day gain in the year as the investors remained highly confident of the market's future outlook," commented International Leasing Securities, in its daily market analysis.
Stocks from the banking sector almost single-handily led the day's upward movement as well as small cap stocks from other sectors also rallied throughout the session, said the International Leasing.
However, investors' sell-off was observed across June-ending companies as the investors booked their profit and shifted toward the day's highest earning stocks, it added.
"Strong interest in capital market fuelled in accelerating the bull-run further, with DSEX surpassing 5,300 points level, at first trading day after Eid vacation," said IDLC Investments.
The benchmark index closed in green, adding another 96.3 points. However, the blue chip DS30 advanced only 5.5 points, reflecting the shift in momentum towards mini and small cap stocks, while large cap remained relatively stable, said the merchant bank.
LankaBangla Securities said, "Dhaka Stock Exchange (DSE) settled in the green, racking up sixth week of gains following a buoyant closing before Eid vacation".
Market continued to beat its record single day return with 96.37 points gain the highest ever gain this year, said the stock broker.
Mostly financial stocks led the day at new pick point, where banking stocks gave 5.2 per cent return and NBFIs moved up by 1.8 per cent. NBFIs are capitalising on their declining costs of funds and improved economic conditions, said the stock broker.
An analyst said that last two months was very attractive for the investors and the market was able to create that environment after a long time ever since the 2010 depression.  
He said that some high-profile companies are still lucrative for investment while most of low-profile companies' shares turn into overprices.
"The investors should carefully invest in a booming market and should analyse the fundamentals of securities before they put cash in stocks," he added.
The securities regulator also advised the investors on September 23 to make their investment decision based on company's fundamental and not to pay heed to any rumours for sustainable growth of the capital market.

babulfexpress@gmail.com