The daily trade turnover on the Dhaka Stock Exchange (DSE) has exceeded Tk 20 billion-mark on Sunday after 23 months, buoyed by heightened optimism among investors.
Investors are optimistic about a new beginning in the market as the securities regulator's Chairman Prof Shibli Rubayat Ul Islam stepped down on Saturday night five days after the fall of Sheikh Hasina-led government in the wake of a mass uprising.
Being upbeat about the development of the country's political landscape, investors made fresh bets on large-cap and blue-chip stocks.
Investors are hopeful about the return of good governance after a major political shift as the new government is likely to make some structural changes for the benefit of the stock market, market experts said.
Turnover, a crucial indicator of the market, stood at Tk 20.10 billion on the country's premier bourse, in a further rise of 25 per cent over the previous day.
The DSE recorded the biggest single-day transaction since September 20, 2022, when the turnover scaled a record amount of Tk 28.28 billion.
Along with soaring market turnover, the benchmark index of the DSE also hit a five-month high to 6,016, soaring 91 points or 1.53 per cent.
As large-cap stocks surged significantly, the DSEX climbed 787 points while the market-cap went up by Tk 679 billion in four trading days to Sunday.
The investor euphoria continues with record high market participation in nearly two years, driven by ongoing optimism surrounding recent changes in the country's political environment, said EBL Securities.
Stocks of large-cap and blue-chip stocks such as Islami Bank Bangladesh, Grameenphone, BRAC Bank, BAT Bangladesh and Robi Axiata mostly contributed to the index rise.
These five stocks accounted for 174 points rise of the key index although majority stocks saw price erosion.
Of the issues traded, 207 saw price fall, 173 closed higher and 20 remained unchanged on the DSE trading floor.
The blue-chip index DS30, a group of 30 prominent companies, spiked more than 52 points to 2,184 while the DSES index, which represents Shariah-based companies, rose 10 points to 1,285.
The prices of fundamentally-strong stocks are soaring, which is a good sign for the market as the recent changes in the country's political environment boosted investors' confidence, said a leading stockbroker.
Major sectors posted significant gains with the heavyweight telecom sector witnessing the highest 8.8 per cent rise, followed by non-bank financial institutions, banking and food sectors.
Grameenphone became the most traded stock with shares worth Tk 1.38 billion changing hands, closely followed by BAT Bangladesh, Robi, and City bank.
The Chittagong Stock Exchange also ended sharply higher with its All Shares Price Index (CASPI) soaring 482 points to 17,282, while the Selective Categories Index (CSCX) jumped 286 points to 10,418.
babulfexpress@gmail.com