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DSEX exceeds 4,300-level after five months

Turnover hits Tk7.0b-mark

FE REPORT | August 06, 2020 00:00:00

The prime index of the Dhaka Stock Exchange (DSE) crossed the 4,300-mark on Wednesday after five months as optimistic investors continued their buying binge on sector-wise issues amid optimism.

DSEX, the key index of the DSE, went up by 8.04 points or 0.18 per cent to settle at 4,307 during the four hours trading.

The core index added more than 231 points in the past nine straight sessions, taking the index above 4,300-level after March 5, this year.

Turnover, another important indicator of the market, stood at Tk 7.18 billion on the country's prime bourse, which was 6.21 per cent higher than the previous day's turnover of Tk 6.76 billion.

Market operators said the expansionary monetary policy statement; gradual reopening of the economy coupled with no major spike in daily Covid-19 infected cases encouraged investors to take position in sector-wise stocks.

The Bangladesh Bank recently unveiled an expansionary monetary policy for current fiscal year lowering borrowing costs to boost up the money flow for revamping the pandemic-hit economic activities, particularly private sector credit growth and the country's ailing capital market.

The securities regulator's hard stance on ensuring mandatory 2.0 per cent shareholding by each director of listed companies had also a positive impact on the stock prices in recent times, he added.

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