DSEX crosses 4,400 points as stocks extend bullish run
Stocks
The stock market continued gaining momentum yesterday, carrying forward its bullish run from the historical gain on Sunday, with the DSEX advancing 52 points or 1.2 percent to cross 4,400 points.
The benchmark index of the Dhaka bourse settled at 4,434 points.
DSES, the Shariah-based index, went up 17 points or 1.7 percent, while the blue-chip index DS30 gained 28 points or 1.9 percent, to close at 1,015 and 1,515 points respectively.
CASPI, the all share price index of the Chittagong Stock Exchange posted a gain of 202 points or 1.5 percent.
Investors' participation stood at Tk494.8 crore, the highest turnover value since December 1 last year.
The investors remained optimistic as the Bangladesh Bank is set to announce a long-term comprehensive plan this week, aiming to support the capital market, according to the Daily Market Review of UCB Capital Management Ltd.
Meanwhile, the central bank has revised its monetary policy for the second half of the fiscal year 2019-20, raising the target of broad money supply to boost the investment in the private sector, added the report.
Most of the sectors posted gains, with the telecom sector registering the highest gain of 6 percent among the large-cap sectors. Banks advanced 1.1 percent, pharmaceuticals gained 0.7 percent and financial institutions moved up 3.9 percent.
Grameenphone dominated the turnover table, gaining 5.8 percent in prices and closing at Tk278.6 per share. The stock registered a turnover value of Tk24.4 crore.
The upward momentum in the price of the mobile operator led the telecom sector to exhibit the highest gain yesterday. Moreover, analysts told The Business Standard that the investors have taken the recent change of its CEO positively.
Grameenphone was followed by SS Steel in the top turnover table, with a turnover value of Tk23.8 crore and a closing price of Tk13.4 per share. The stock was followed by three large-cap stocks Lafarge Holcim Bangladesh Ltd, Square Pharmaceuticals Ltd and Brac Bank Ltd.
The Gemini Sea Food Ltd was the day's best performer, moving up 10 percent and closing at Tk163 per share.
SS Steel, however, extended its loss from Sunday and again turned out to be the day's worst loser, shedding 9.5 percent price.
Out of 354 issues traded, 149 advanced, 161 declined and 44 remained unchanged on the DSE trading floor.
Comments
While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.