Stocks jump as major sectors soar
Stocks witnessed sharp gains on Wednesday, extending the winning streak for the second straight session, as buoyant investors went for buying on major sector shares.
The stock market witnessed a big gain in back to back sessions as the investors went on a buying spree on heavyweight stocks, according to a stockbroker.
The market opened sharply higher and the upbeat trend continued till the end of the session with no sign of reversal, finally ending more than 114 points higher.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), jumped 114.09 points or 1.66 per cent to settle at 6,982. DSEX recovered about 183 points in the past two consecutive sessions.
Two other indices also ended higher with the DS30 index, comprising blue chips, rose 44.71 points to finish at 2,660 and the DSE Shariah Index gained 24.08 points to close at 1,478.
Turnover, a crucial indicator of the market, stood at Tk 11.63 billion on the country’s premier bourse, which was 15.50 per cent higher than the previous day’s six months lowest turnover of Tk 10.07 billion.
More than 80 per cent of traded shares closed higher as out of 375 issues traded, 301 ended higher and 43 lower while 31 remained unchanged on the DSE trading floor.
A total number of 171,638 trades were executed in the day’s trading session with a trading volume of 242.31 million shares and mutual fund units.
The market capitalisation of the DSE also rose to Tk 5,560 billion on Wednesday, up from the previous day’s mark of Tk 5,491 billion.
Beximco – the flagship company of Beximco Group- topped the turnover chart with shares worth Tk 1.45 billion changing hands, followed by Orion Pharma (Tk 611 million), LafargeHolcim (Tk 466 million), Beximco Pharma (Tk 316 million) and IFIC Bank (Tk 263 million).
Newly listed Sena Kalayan was the day’s best performer, posting a gain of 9.77 per cent while Doreen Power was the worst loser, losing 7.62 per cent.
The Chittagong Stock Exchange also ended sharply higher with its All Shares Price Index (CASPI)—soaring 336 points to close at 20,434 while the Selective Categories Index – CSCX – rising 202 points to close at 12,278.
Of the issues traded, 228 advanced, 30 declined and 24 issues remained unchanged on the CSE.
The port city bourse traded 9.98 million shares and mutual fund units with a turnover value of Tk 343 million.