DSEX crosses 5,600 mark after 11 months
The rally followed a brief pause in the previous session, as investors once again poured into equities amid a wave of renewed optimism.
The Dhaka Stock Exchange (DSE) saw its broad index, the DSEX, rise 37 points to 5,620 on Tuesday (2 September) — a level last recorded on 30 September 2024, when it closed at 5,624.
The rally followed a brief pause in the previous session, as investors once again poured into equities amid a wave of renewed optimism.
The blue-chip index, DS30, added 6 points to close at 2,195. Market breadth remained positive, with 220 issues advancing, 131 declining, and 47 remaining unchanged.
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Turnover at the Dhaka bourse jumped by 8% to Tk1,278 crore, signalling heightened investor activity.
According to the daily market review of EBL Securities, the capital market resumed its upward trajectory as investors continued to chase equity positions, buoyed by sustained confidence across the trading floor.
The brokerage noted that the DSEX crossing the 5,600 mark after nearly a year reflected improving sentiment backed by macroeconomic stability and a relatively clear political outlook ahead of the upcoming national elections, it added.
"Opportunistic investors are also reshuffling portfolios to capture quick gains ahead of the June-closing earnings declarations," the review added.
Pharmaceutical stocks dominated the day's trading, accounting for 12.9% of turnover. Engineering and banking sectors followed closely, contributing 11.5% and 11%, respectively.
City Bank, Lovello Ice-Cream, Khan Brothers PP Woven Bag, Orion Infusion, and ITC emerged as the top turnover leaders, reflecting investors' appetite for both financials and consumer-oriented stocks.
Sector performance was largely positive. IT stocks surged by 7%, leading the day's rally, while ceramics gained 5.5% and travel shares advanced 2.3%.
On the other hand, mutual funds, life insurance, and general insurance sectors posted marginal declines, shedding 0.7%, 0.7%, and 0.4%, respectively.
Despite the upbeat mood, some weaker firms led the list of top gainers. Miracle Industries rose 10%, Intech gained 9.97%, Khan Brothers PP Woven Bag jumped 9.96% and Nahee Aluminum added 9.91%.
Conversely, non-bank financial institutions dominated the list of top losers. GSP Finance fell 8.82%, Prime Finance dropped 7.40%, Phoenix Finance declined 5.88%, FAS Finance shed 5.55%, and Fareast Finance lost 5.55%.
At the Chittagong Stock Exchange (CSE), the CSCX index rose 25 points to close at 9,618, while the CASPI gained 46 points to finish at 15,652. However, turnover at the port city bourse dropped sharply by 49% to Tk14.79 crore, in contrast to the robust activity in Dhaka.
Market insiders said the return of sustained rallies has bolstered confidence after months of sluggish performance, although they warned that profit-taking may emerge in the coming sessions, given the rapid pace of gains.
