DSEX, the prime index of the Dhaka Stock Exchange (DSE), crossed the psychological threshold of 5,000-point benchmark after a year at the end of Thursday trading session.
From mid-February until March 18 this year, the DSEX fell from 4,768 to 3,603 due to the coronavirus pandemic. The sudden sell-off in stocks forced regulators to enforce a drastic rule -- a floor price for all listed shares.
When the stock market reopened after a 66-day countrywide general holiday, DSEX increased gradually with surging turnover.
The rally is being jointly supported by monetary easing, economic recovery, the capital market regulator's moves for good governance alongside increased expectation for a continuation, said a top official of a brokerage firm.
On Thursday, DSEX rose by 39 points to settle at 5,011.
The shariah index DSES also increased by 12 points to 1,158 and blue-chip index DS30 gained 13 points to settle at 1,740.
One of the leading brokerage firms in its review said the market started with an upward vibe with some volatility in the middle. But, the last hour buying pressure flew in the index as the enthusiastic investors took fresh positions.
However, turnover on the DSE trading floor decreased by 5% to Tk1,024.54 crore Thursday.
The pharmaceuticals sector continued to maintain in the highest position in sector turnover with a contribution of 22%. The engineering and banking sectors secured the second and third positions respectively on the turnover chart.
Beximco Pharma continued to see the highest turnover alongside Beximco and Brac Bank.
Except for cement and insurances, all the large cap sectors marked a positive movement at DSE Thursday.
The information and technology sector secured the highest gains followed by paper and travel. Out of 356 issues traded, 190 issues advanced, 117 issues declined and 49 issues remained unchanged.
However, out of 39 'Z' category shares traded, 35 issues advanced, while RN Spinning, Jute Spinners and Shyampur Sugar saw the highest gain in the trading floor.
The port city bourse Chittagong Stock Exchange also registered a winning session at the end of the Thursday session. The selected index, CSCX and CASPI, increased by 53.4 and 100.2 points respectively.