DSEX jumps 1.77%, turnover hits 10-month high at Tk986cr
The previous comparable high was 5,365 points, recorded on 5 November last year.
The Dhaka Stock Exchange (DSE) continued its upward momentum today (23 July), with the benchmark DSEX index surging 93 points, or 1.76%, to close at 5,363 – its highest level in over eight months.
The previous comparable high was 5,365 points, recorded on 5 November last year.
The rally marks the seventh consecutive session of gains, with the index adding a total of 302 points during this period.
With this sharp rise, the market capitalisation swelled by Tk29,000 crore in the past seven days, pushing the total market value to Tk7.08 lakh crore.
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Blue-chip stocks led the charge as the DS30 index, comprising large-cap companies, advanced 56 points to close at 2,086.
Turnover on the premier bourse jumped 37% from the previous session to Tk986 crore, the highest in 10 months, reflecting growing investor confidence and participation.
Market breadth remained positive, with 218 issues advancing, 102 declining, and 79 remaining unchanged out of 399 traded scrips.
EBL Securities, in its daily market review, said the upward momentum in market indices continues to demonstrate resilience, as the persistent buying spree across key sectors remains prevalent on the trading board, driven by sustained investor optimism.
The current invigorating market activity has encouraged increased investor participation, driving price appreciation in the majority of scrips and also strengthening the market's upward trajectory, it added.
On the sectoral front, bank issues exerted the highest turnover, contributing 25.2% to the DSE's total turnover, followed by pharma at 14.5% and engineering at 10.1% sectors.
Sectors mostly displayed positive returns, out of which food, telecom, and fuel and power exhibited the most positive returns on the bourse, while only jute and engineering exerted the most corrections.
Scam-hit Uttara Finance topped the gainers' list with a 9.66% jump in share price to Tk15.90, followed by Coppertech Industries, Bank Asia, and Mutual Trust Bank.
Strong July performance
The market has shown notable resilience and strength in July. From 22 June to 23 July, the DSEX has gained a substantial 686 points, reflecting a 15% rise over the period. During the same timeframe, market capitalisation surged by Tk59,000 crore – a strong signal of growing investor optimism.
A managing director of an asset management company said, the recent rally signals growing investor confidence driven by a rare alignment of macroeconomic and policy factors.
Falling inflation, a stronger taka, rising reserves, and a gradual easing of monetary conditions are collectively reviving risk appetite, he said.
At the same time, structural reforms and improved governance in the capital market are restoring investor trust, he added.
He further said as government treasury yields continue to decline, along with Bangladesh Bank's recent decision to reduce the reverse repo rate by 50 basis points to 8%, some institutional investors are preferring the stock market to park their investments, which is one of the main reasons for the rising turnover.
