The DSEX benchmark index of the Dhaka Stock Exchange (DSE) surged past 5,700 points today (6 May after an 11-day interval, accompanied by a turnover reaching a three-month peak at Tk1,000 crore.
By the end of the day's trading session, the DSEX soared by 34 points, reaching a total of 5,727, while the blue-chip index DS30 experienced a gain of 13 points, reaching 2,046.
Furthermore, market participation saw a steady rise, with total turnover surging by 34% to Tk1,096 crore, compared to Tk818 crore in the preceding session.
Market insiders attributed the continued recovery in the Dhaka bourse for the fourth consecutive day to the sustained appetite among investors.
Over the past four days, the DSEX witnessed a notable increase of 158 points, accompanied by a surge in market capitalisation by Tk11,194 crore, reaching a total of Tk7.13 lakh crore.
EBL Securities, in its daily market review, said that the Dhaka bourse logged back-to-back positive sessions this week, extending the recovery mode for four consecutive sessions as opportunistic investors kept on chasing quick rallies that helped the core index cross the 5,700-mark after around 3 weeks.
Buyers continued their dominance, leading the majority of scrips to extend their price appreciation since investor sentiment has somewhat rebounded from the prolonged depressed vibe, it added.
Reappointment of the regulatory body chief and announcement of corporate earnings have helped investors make their mind regarding fresh bets in stocks, the market insiders said.
The return of regulatory interference later last month in the form of a squeezing limit for daily price decline – from up to 10% to 3% - triggered a fresh panic among the investors initially. But it did not last when investors saw some signs of recovery.
Today, a total of 252 scrips advanced on the DSE, 86 declined and 58 remained unchanged.
The Pharma sector contributed the highest 21.5% to the DSE's daily turnover, followed by textile and bank sectors.
Orion Infusion topped the turnover chart with turnover of Tk45 crore, closely followed by Asiatic Laboratories and Lovello Ice Cream.
Most of the sectors displayed positive returns, out of which non-bank financial institutions topped with 6.2% increase in market capitalisation, followed by service and real estate, textile, and fuel and power.
Esquire Knit Composite claimed the top spot on the gainer chart, with its share price soaring by 10% to Tk24.2, followed by Investment Corporation of Bangladesh, Aman Cotton, and Global Heavy Chemical.
However, sectors such as travel, paper, and life insurance experienced slight corrections today at the DSE.
Shyampur Sugar performed the poorest among stocks on the day, followed by Rahima Food, South East Bank, and Rupali Life Insurance.
The port city bourse, Chittagong Stock Exchange (CSE), also settled on the green terrain. The CSE all-share price index CASPI rose by 129 points to 16,361 and the general index CSCX gained 76 points to 9,850. But the turnover at the CSE dropped over 68% to Tk12.85 crore.
Source: The Business Standard