DSE market cap surges Tk16,420cr last week
Investor participation in the market witnessed a significant surge, with the average turnover soaring 85% to Tk1,695 crore
Highlights
- DSEX surged 2.56% to 6,373
- Daily average turnover jumped 85% to Tk1,695cr
- Orion Infusion was top traded shares
- Sikder Insurance was top gainer
- Renata was top loser
Market capitalisation of the Dhaka Stock Exchange (DSE) experienced a significant increase of Tk16,420 crore, reaching Tk7,72,526 crore last week.
This uptick, amounting to 2.17%, was fuelled by the optimism of investors who persistently pursued sector-specific stocks they considered lucrative. This trend followed a significant correction in the market after the removal of the floor price, according to the market insiders.
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In the last week, the benchmark index DSEX of the DSE jumped 159 points or 2.56% to reach at 6,373, while the blue-chip index DS30 gained 21 points to 2,138.
EBL Securities said in its daily market commentary that the benchmark index of the Dhaka bourse extended its bullish momentum for two consecutive weeks, crossing the psychological threshold of 6,300- mark owing to favourable earnings disclosure for the recently ended quarter.
Investor participation in the market witnessed a significant surge, with the average turnover soaring 85% to Tk1,695 crore, compared to Tk916 crore in the previous week.
The market sustained buyer dominance riding on rebounding investor confidence across the trading floor, while investors' interest in particular large-cap issues also played a significant role in extending the upward trend of the core index for consecutive sessions and helping the bulls retain control for another week, the EBL Securities report added.
Investors were mostly active in engineering sector, contributing 16.4% of the total DSE turnover, followed by pharmaceuticals and textile.
Most of the sectors ended in green with ceramic sector being the highest gainer and the miscellaneous sector being the biggest loser.
Orion Infusion emerged as the most-traded stock, with shares worth Tk247 crore changing hands, leading the list of actively traded stocks. It was closely followed by Fu-Wang Ceramic, BD Thai Aluminium, Khulna Printing and Packaging, and Central Pharma.
Sikder Insurance, a newcomer to the market, emerged as the top gainer of the week, surging by an impressive 60%. On the other hand, Renata experienced a 12% decline, marking it as the week's worst performer.
The Chittagong Stock Exchange (CSE) witnessed positive momentum, concluding the week with the all-share price index (CASPI) gaining 670 points, reaching 18,296. Additionally, the selective categories index (CSCX) surged 396 points, closing at 10,951.
