DSEX crosses 5900-mark after 11 months

FE Report | Thursday, 24 January 2019

The benchmark index of the Dhaka Stock Exchange (DSE) exceeded the 5900-mark on Wednesday after eleven months as bank stocks kept the market afloat.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,925, climbing by 59.78 points or 1.02 per cent. It was the highest level of DSEX since February 19, 2018.
Market analysts said stocks maintained its rally amid spontaneous participation backed by enthusiasm, taking the core index above 5900-mark after eleven months.
A leading broker said investors have regained confidence in the market after the elections and chose the financial sector issues as the sector will declare year-end earnings results soon.
He noted that the banking sector has remained at a low level, drawing investors. The price-earnings (PE) ratio of the sector is still low, so investors are looking at them as safe investment option, he added.
The banking sector posted the highest gain of 3.12 per cent with the entire 30 banks saw their price appreciations. The sector also accounted for 28 per cent of the day's total turnover.
According to IDLC Securities, DSEX climbed by 1.02 per cent reaching 11-month high as bank stocks kept index buoyant.
The enthusiastic investors showed their buying appetite on large-cap stocks from the beginning of the session which continued till end of the session with no sign of reversal.
Two other indices also ended higher. The DS30 index, comprising blue chips, went up by 16.92 points to close at 2,043 and the DSE Shariah Index (DSES) advanced 2.43 points to close at 1,321.
Bullish sentiment also reflected on the trading activities as total turnover crossed the Tk 10 billion-mark further and amounted to Tk 10.45 billion, which was 17 per cent higher than the previous day's Tk 8.90 billion.
International Leasing Securities said daily turnover increased as the optimistic investors continued to inject fresh funds into the market, particularly banking and financial institutions sectors
The NBFIs sector also gained 1.87 per cent as 21 issues of the sector closed green out of 23. Telecommunication sector gained 0.66 per cent.
Engineering and pharmaceuticals sector lost 0.71 per cent and 0.20 per cent respectively.
A total number of 209,088 trades were executed in the day's trading session with trading volume of 336.05 million shares and mutual fund units.
The market-cap of DSE increased to Tk 4,185 billion which was Tk 4,158 billion in the previous day.
Out of 346 issues traded, 165 advanced, 150 declined and 31 issues remained unchanged on the DSE floor.
Port city bourse Chittagong Stock Exchange (CSE) ended higher with the CSE All Share Price Index - CASPI - rising 204 points to settle at 18,212 points and Selective Categories Index - CSCX -soaring 125 points to finish at 11,004.
The losers, however, beat the gainers as 126 issues closed lower, 124 higher and 17 remained unchanged.
The port city bourse traded 19.40 million shares and mutual fund units worth Tk 478 million in turnover.

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