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Core index crosses 5700-point mark after 22 months

FE Report | January 12, 2021 00:00:00

Dhaka bourse closed the Monday's session with a sharp rise in broad index which crossed 5700-point mark after 22 months riding on investors' increased participation.

Of the major sectors, telecommunication and pharmaceuticals & chemicals played the pivotal role behind the sharp rise of the broad index.

The market opened the day's session negatively and soon later the DSEX, broad index of Dhaka Stock Exchange (DSE), showed an upward trend.

After half an hour, the DSEX rose steadily till mid-session and finally the broad index closed the day's session with a rise of 1.50 per cent or 84.70 points to close at 5718.75 points. Previously, the DSEX closed at 5710 points on March 3, 3019.

The shariah based index DSES advanced 1.84 per cent or 23.49 points to close at 1297.41 points.

The DS30 index comprising blue chip securities closed at 2123.96 points with a rise of 2.74 per cent or 56.77 points.

Of 360 issues traded, 128 advanced, 180 declined and 52 were unchanged on the premier bourse DSE.

At the end of the session, the DSE featured a turnover of above Tk 16.75 billion which was 11.29 per cent higher than the turnover of the previous session.

Of total turnover, Tk 611 million came from transactions executed in block board.

According to a market review of International Leasing Securities, the Dhaka stocks witnessed a steep rise in its benchmark index as the enthusiastic investors continued their buoyancy especially in the large cap sectors amid optimism.

"The upward trend in early hour of trading persisted till the closure. The opportunist investors' buoyancy in cement, telecom, fuel & power, pharma and food sectors helped the benchmark index to cross 5,700 points mark since 03 March 2019," said the International Leasing Securities.

It said the shaky investors, however, booked some quick gain on bank and financial institutions riding on the news of embezzlement of money from Uttara Finance and Investment, a non-bank financial institution, which has not followed the procedures in disbursing huge amount of loans.

Of the sectors which witnessed price appreciation, engineering advanced 1.3 per cent, fuel & power 2.5 per cent, general insurance 1.7 per cent, pharmaceuticals & chemicals 2.3 per cent, telecommunication 3.2 per cent and cement 4.5 per cent.

Of the sectors which witnessed price correction, bank declined 1.4 per cent, financial institutions 0.5 per cent, mutual fund 2.4 per cent, and jute 4.6 per cent.

Investors' activities were concentrated mostly on pharmaceuticals & chemicals sector which grabbed 16 per cent of the market turnover followed by miscellaneous 14.2 per cent, financial institutions 11.2 per cent, and bank 8.1 per cent.

Beximco topped the scrip wise turnover chart with a value of Tk 1.65 billion followed by Beximco Pharmaceuticals Tk 1.38 billion, LankaBangla Finance Tk 990 million, LafargeHolcim Bangladesh Tk 744 million and IFIC Bank Tk 546 million.

Beximco was the number one gainer with a rise of 10 per cent or Tk 6.6 to close at Tk 72.60.

Sonali Aansh Industries was the worst loser after declining 7.16 per cent or Tk 43.3 to close at Tk 561.70 each.

All indices of the Chittagong Stock Exchange (CSE) advanced moderately on Monday.

The benchmark index CASPI advanced 1.69 per cent or 277.29 points to close at 16665.38 points.

Of 290 issues traded, 108 advanced, 147 declined and 35 were unchanged and at the end of the session the turnover stood at above Tk 743.11 million on the port city bourse CSE.

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