Dhaka, Bangladesh (BBN)- The prime index of the Dhaka Stock Exchange (DSE) registered a staggering 1.83 percent gain Sunday, the biggest single-day gain in 2014 as the investors remained highly confident on the market’s future outlook.
DSEX, the prime index of the DSE jumped 96.31 points or 1.83 percent to close at the highest level since its inception on January 28, 2013. On Sunday’s gain was also the biggest single-day gain in 2014.
The market started with a flying note and remained vibrant throughout the session amid strong buying pressure from the investors, including global fund managers.
Market insiders attributed the current market trend to investors’ growing confidence and fresh investment in the stock market.
“The stock market witnessed a biggest single-day gain in the year as the investors remained highly confident on the market’s future outlook,” commented International Leasing Securities, in its daily market analysis.
Stocks from the banking sector almost single-handily led the day’s upward movement as well as small cap stocks from other sectors also rallied throughout the session, said the International Leasing.
However, investors sell-off was observed across June-ending companies as the investors booked their profit and shifted toward the day’s highest earning stocks, it added.
“Strong interest in capital market fuelled in accelerating the bull-run further, with DSEX surpassing 5,300 points level, at first trading day after Eid vacation,” said IDLC Investments.
LankaBangla Securities said: “Dhaka Stocks Exchange (DSE) settled in the green, racking up sixth week of gains following a buoyant closing before Eid vacation”.
Market continued to beat its record single day return with 96.37 points gain the highest ever gain in this year, said the stock broker.
An analyst said that last two months was very attractive for the investors and the market was able to create that environment after a long time ever since the 2010 depression.  
He said that some high-profile companies are still lucrative to invest in, while most of low-profile companies’ shares turn into overprices.
 
“The investors should carefully invest in a booming market and should analyse the fundamentals of securities before they put cash in stocks,” he added.
 
The securities regulator on September 23 also advised the investors to make their investment decision based on company’s fundamental and not to pay heed any rumours for sustainable growth of the capital market.

BBN/SSR/BB-12Oct14-11:30 pm (BST)