Dhaka, Bangladesh (BBN)– Bangladesh’s stocks kept soaring with the key index of the Dhaka Stock Exchange (DSE) hitting two and a half months on Sunday amid growing investors’ confidence in the market.
The market started on a flying note and remained vibrant throughout the session amid strong buying pressure from the investors, including global fund managers.
Turnover, an important indicator of the market, stood at BDT 9.16 billion on the country’s premier bourse, climbing further by 25 percent over previous day’s mark of BDT 7.30 billion.
It was the biggest single-day transaction in more than one year since February 14, 2019, when the turnover totaled a record BDT 9.32 billion.
DSEX, the prime index of the DSE, continued to hold its soaring momentum, soaring 169.54 points or 3.71 percent to settle at two months high at 4,734.
Market analysts said the central bank’s fund supportive measures coupled with the government’s moves to divest shares of selected state-owned entities boosted investor’ confidence in the market.
The news that the Asian Development Bank has lent $170 million more to Bangladesh to assist the country’s ongoing capital market reforms also encouraged investors, said a leading broker.
Two other indices also ended higher. The DS30 index, comprising blue chips, rose 169.54 points to finish at 1,592 and the DSE Shariah Index soared 29.92 points to close at 1,045.
Gainers took a strong lead over the losers as out of 356 issues traded, 293 closed higher, 40 ended lower and 23 remained unchanged on the DSE trading floor.
LafargeHolcim topped the turnover chart with shares worth BDT 322 million changing hands, followed by Khulna Power, Bangladesh Submarine Cable, Bangladesh Shipping Corporation and Shepherd Industries.
Orion Infusion was the day’s best performer, posting a gain of 10 percent while Alltex Industries was the worst loser, losing 7.86 percent.
The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—soaring 533 points to close at 14,436 and the Selective Categories Index – CSCX –rising 325 points to finish at 8,758.
The port city bourse traded 15.65 million shares and mutual fund units worth BDT 300 million in turnover.