The daily turnover and the key indices of the Dhaka and Chittagong bourses hit their all-time highs on Thursday as the markets witnessed buying frenzy amid sharp rises in the prices of securities in recent weeks, market operators said.
The daily turnover at Dhaka Stock Exchange hit Tk 2,945.37 crore, up by 401.82 crore from the previous day. The previous highest single-day turnover at the bourse was Tk 2,836.85 crore on Tuesday. The DSE market capitalisation also refreshed its highest ever total at Tk 3,37,784 crore on the day.
The general index of the DSE crossed 7,900-point mark for the first time on Thursday, gaining 88.49 points, or 1.12 per cent, to close at 7,937.04 points. The index crossed 7,800-point mark for the first time on Tuesday. On Monday, the key index of the bourse topped 7,700-point mark.
Market experts observed that dearth of shares at the markets resulted in the non-stop rise in share prices as investors, encouraged by the trend, flocked to the markets. The finance minister’s recent comments on the current market situation and offloading of the government’s stakes in the state-owned listed companies also cheered the investors, they said.
Finance minister AMA Muhith on Sunday debunked a widely held view of market observers that the capital market is now overheated with share values being enormously overpriced beyond the company fundamentals.
‘The capital market is not overheated but may be too much bullish,’ he told a meet the press function organised by the Economic Reporters Forum.
Akter H Sannamat, managing director of merchant bank Prime Finance and Investment, said the dividend declarations made by a number of high profile companies encouraged the investors.
The government should take steps to offload its shares in the listed companies quickly, he added.
‘We are monitoring the market very closely,’ SEC executive director Anwarul Kabir Bhuiyan told the New Age on Thursday.
He said buying spree of investors pulled the market on Thursday.
Shakil Rizvi, president of the DSE, said good corporate results put a positive impact on the market this week.
The market needs new shares for maintaining its stability, he added.
The daily turnover of the Chittagong Stock Exchange hit new record at Tk 340.74 crore, up by Tk 92.23 crore from the previous day.
Chittagong Stock Exchange’s selective categories index crossed 14,600-point mark for the first time, advancing by 158.60 points or 1.09 per cent to finish at 14,682.24 points on Thursday.
Fakhor Uddin Ali, president of the CSE, said buying pressure pulled the market as confidence of investors in the market was increasing.
Financial institutions, insurance companies, fuel and power issues and Grammenphone led Thursday’s gain.
Of the total 237 issues traded on the DSE, 130 advanced, 106 declined and one remained unchanged.
Social Islami Bank topped the turnover leaders with 25.26 lakh shares valued at Tk 131.40 crore traded on the day.
The other turnover leaders were Titas Gas, Peoples Leasing and Financial Services, Bay Leasing and Investment, Shinepukur Ceramics, Prime Finance and Investment, Union Capital, United Commercial Bank, AB Bank and Beximco.
BD Autocars was the day’s biggest gainer, posting a 21.28-per cent rise in its share prices while Meghna Life Insurance was the worst loser on the day.
Of the total 187 issues traded on the CSE floor, 99 advanced, 79 declined and nine remained unchanged on the day.
