DSE market capitalisation and volume reaches record high

The stock market is forging up, leaving behind the recently emerged cautions about a liquidity-driven rally and moderate overhauling of interest rates.

Indices at the Dhaka Stock Exchange (DSE) reached new highs with new records in total market capitalization and also in the number of securities traded in a single session.

For the first time in the bourse's history, the number of traded shares and mutual fund units crossed the 100-crore mark, while the total market capitalisation stood at a record high of Tk549.05 lakh crore.

DSEX, the broad-based index at the capital city bourse, increased by 49.5 points or 0.74% to close at 6,749.

EBL Securities wrote in its daily market commentary, "Investors have been taking a position in selective stocks particularly in the textile, bank and the non-bank financial institution stocks with an anticipation of upward movement in the ongoing bullish market."

This ongoing buying rush is keeping the market buoyant as both the index and the turnover is surging.

Moreover, confidence from the reopening of the economy and still comparatively lower return from money market instruments have kept investors interested in the rallying capital market, said the top-tier brokerage firm.

Total turnover increased by 10.98% at the DSE and stood at Tk2,954 crore on the day. Out of the 375 issues traded, 204 advanced, 146 declined, and 25 remained unchanged there.

On the sectoral front, textile, financial institutions and banks contributed most to the day's total turnover.

Most of the sectors observed persuasive performance, out of which services with 4.5% gains led to the winning table, while financial institutions and textile followed.

On the other hand, the paper and printing and insurance sectors faced the largest correction with a 1.7%-1.8% fall.

Chittagong Stock Exchange (CSE) also observed a similar positive price and volume momentum.