Dhaka stocks continued to jump on Thursday with the DSE’s key index hitting another high at 4,702.66 points since its inception on January 28 last year as institutional and retail investors continued to inject fresh funds. The benchmark general index of Dhaka Stock Exchange, DSEX, closed at another high of 4,702.66 points, adding 1.33 per cent or 62.10 points.DS30, the blue-chip index of the bourse, also finished hitting fresh high of 1,664.10 points, increasing 1.46 per cent or 24.03 points.
The DSEX and DS30 increased to their highest value on Wednesday after their launch with 4,055.90 points and 1,460.30 points respectively on January 28 last year.
In January, the DSEX and DS30 have increased 436.11 points and 197.85 points correspondingly.
DSES, the newly introduced Shariah index, increased by 1.58 per cent, or 15.26 points, to finish at 976.33 points on Thursday.
Turnover of the DSE remained flat at Tk 833.60 crore which was Tk 834.88 crore in the previous trading session.
Market operators said that institutional and retail investors continued to participate on the trading floor as they were anticipating another bubble in the market after the formation of Awami League-led government for another fresh term.
In 2009-2010, DGEN, the old benchmark general index of Dhaka Stock Exchange, increased abnormally after the formation of AL-led government. The same thing happened in 1996. On both occasions, the bubble burst.
The opposition BNP refrained from declaring any tough action against the government after the elections which was another reason behind the bullish trend in the market, operators said.
Expectation of another relaxed monetary policy for the January-June period by the central bank on January 27 was another reason, they said.
Former caretaker government advisor Mirza Azizul Islam told New Age, ‘Investors should be careful about the small-capitalised and ‘Z’ category companies’ shares.’
‘As the regulator is now having modern equipments to monitor the market closely, they should also be aware of any wrongdoing in share trading,’ he said.
‘Triumphant march of the market went on, powered by positive investment outlook,’ IDLC Investments said in its daily market commentary.
‘Investors’ confidence grew even stronger and kept on supporting the market in this uptrend,’ it said.
Optimism pushed DS30 today, to break its previous record high of 1,654 points,’ it said.
Of the 295 shares and mutual funds that changed hands, 177 advanced, 97 declined and 21 remained unchanged.
LankaBangla Finance led the turnover chart as its shares worth Tk 30 crore changed hands.
Padma Oil, Square Pharma, Square Pharmaceuticals, Olympic Industries, Meghna Petroleum, UCBL, Grameenphone, Confidence Cement, Summit Purbanchol Power Company and Lafarge Surma Cement were among other turnover leaders.
-With New Age input
