DSEX hits record high since Jan 28 launch
Dhaka stocks gained for the fifth straight day on Tuesday with the key index, DSEX, hitting its highest value since the January 28 launch as the rumour that the Bangladesh Bank might relax some provisioning related rules fuelled investors’ optimism.
The DSEX added 2.38 per cent, or 101.94 points, to finish the day at 4,381.37 points while DS30, the blue-chip index of the bourse, closed at 1,530.77 points, gaining 2.76 per cent, or 41.16 points.
The turnover of the Dhaka Stock Exchange increased to Tk 787.92
crore from that of the previous session’s Tk 579.96 crore.
Tuesday’s turnover was the highest since Tk 820.30 crore recorded on August 25.
Of the 288 shares and mutual funds traded on the day, 223 advanced, 57 declined and 8 remained unchanged.
The investors became active on the trading floor as rumour had it that the Bangladesh Bank was likely to give the banks one more year to meet its provisioning related rules, said market operators.
On the other hand, the investors were probably expecting some developments on the political front as the BNP chairperson was scheduled to meet the president in the evening, they added.
‘With optimism reaching in a cascade to all level of investors, recent momentum reached critical mass today, and propelled broad index DSEX to all time high of 4,381.37 points without any hesitation,’ IDLC Investments said in its daily market commentary.
‘Resilience in sentiment was accompanied by two and a half months’ highest turnover of Tk
787.82 crore, caused by rebooted activities from previously dormant
investors and sideliners,’ it also said.
Paramount Textile led both the turnover chart and the gainers’ list on its
debut as its shares worth Tk 35.19 crore changed hands thanks to its price gaining 63.57 per cent to finish at Tk 45.6.
Eastern Housing lost the most, 8.75 per cent.
-With New Age input
