Stocks see rally on DSE

FE Report | Published: September 03, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks witnessed sharp gain Tuesday with prime index of the Dhaka Stock Exchange (DSE) hitting four months high as investors went for buying spree on large cap stocks.
The market started with an upward trend and the prime index of the DSE - DSEX surpassed the 'psychological' threshold of 4,600-mark and ended at 4,602.43 points after surging 47.46 points or 1.04 per cent. It is four-month high level of DSEX since April 28.
The DS30, comprising blue chips and the DSE Shariah Index touched at highest points of 1,746.00 points and 1,083.57 points, respectively from the inception after gaining 23.31 points and 18.65 points on Tuesday.
The total turnover improved to Tk 5.52 billion, registering an increase of 10.01 per cent over the previous session's value of Tk Tk 5.01 billion.
Textile, pharmaceuticals and engineering grabbed the investors' attention - the sectors that, accounted for 16 per cent, 15 per cent and 11 per cent respectively of the day's total turnover.
"DSE went for a bullish outlook as investors finally overcome their recent indecisiveness and became optimistic about the market's future prospects," commented International Leasing Securities, in its daily market analysis.
Scrips across all major sectors enjoyed positive returns, particularly a couple of large cap like Lafarge Surma and Square Pharma were among the top index mover, said the International Leasing.
"Stocks of Investment Corporation of Bangladesh (ICB) achieved maximum possible gain as the investors showed their appreciation towards proposed Bill for ICB's licensing as a banking company," the International Leasing Securities added.
Zenith Investments said: "DSE indices extended previous session's gains, as investors simultaneously gathered to inject more funds into the stock market".
Overall health of the market looks quite positive, but investors should be careful in selecting and differentiating between fundamentally sound issues and gambling issues, the Zenith Investments added.
LankaBangla Securities said: "Market roared hitting the day's close crossing over the 'psychological' level 4,600 points-mark".
In industry news, banks' overall capital base shrank 1.36 per cent in the second quarter of this year compared to the first quarter as the asset quality of state banks deteriorated further, said the stock broker.
Local entrepreneurs are investing heavily in denim, as at least six new factories will come into operation this year to meet growing global demand, the stock broker said.
"For investors, there are a couple of takeaways from all of these. Investors are focusing more on multinational companies," the stock broker added.
"Clienteles were assessing valuation level of the market and re-positioning in lucrative blue chip scrips," said IDLC Investments.
Most of the mutual funds secured worst position in top ten losers list, due to post record date adjustment, said the merchant bank.
Among the major sectors, food and allied lost the most 2.71 per cent while banks closed flat in red with 0.01 per cent loss.
The other major sectors closed higher - NBFIs posted highest gain of 3.23 per cent followed by pharmaceuticals going up by 1.72 per cent. Fuel and power edged up by 0.77 per cent.
Gainers outpaced losers as out of 304 issues traded, 207 advanced, 67 declined and 30 remained unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where trade and volume were up by 1.61 per cent and 22.02 per cent respectively. A total of 0.131 million trades were executed with 148.08 million securities of trading volume.
The total market capitalisation of the DSE stood at Tk 3,106.73 billion against Tk 3,047.29 billion in the previous session.
The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 78.21points to close at 8,675.05 points.