DSEX tops 5,900 for first time in 23 months on reform hopes
The DSEX gained 44 points, or 0.75%, to close at 5,911, its highest level in nearly two years. The blue-chip DS30 index also advanced 24 points to 2,227.
The benchmark index of the Dhaka Stock Exchange (DSE) climbed above the psychological 5,900-point mark on Tuesday (14 July), reaching a 23-month high as investors aggressively accumulated shares on expectations of regulatory reforms.
The DSEX gained 44 points, or 0.75%, to close at 5,911, its highest level in nearly two years. The blue-chip DS30 index also advanced 24 points to 2,227.
Trading activity strengthened significantly, with turnover rising 16% to Tk1,651 crore from the previous session.
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According to EBL Securities' daily market review, the stock market extended its rally for a fourth straight session as investor sentiment remained upbeat over proposed revisions to margin loan rules and planned measures to improve market liquidity, including a shorter share settlement cycle and the introduction of scrip netting for intraday trading.
The market opened higher and maintained its upward momentum throughout the session. Strong participation and broad-based buying intensified in late trading, helping the benchmark reclaim the 5,900-point level for the first time in nearly two years.
Analysts said optimism over domestic policy initiatives outweighed concerns stemming from the renewed conflict in the Middle East.
The textile sector led trading, accounting for 14.1% of total turnover, followed by general insurance with 13.7% and engineering with 9.3%.
Among sectors, cement posted the highest gain, rising 3.5%, followed by tannery at 1.8% and jute at 1.7%. Life insurance, mutual funds and general insurance edged lower as investors booked profits.
Market breadth remained positive, with 199 stocks advancing, 137 declining, and 57 remaining unchanged.
Lovello Ice Cream was the most traded stock by value, followed by Bangladesh Shipping Corporation, Malek Spinning, LafargeHolcim Bangladesh and IPDC Finance.
Aman Feed topped the gainers with a 9.97% rise, followed by National Tea (9.96%), Northern Jute (9.94%) and Rahima Food (9.93%).
International Leasing was the day's biggest loser, falling 8.33%, followed by Meghna Insurance and Premier Leasing.
Market analysts said the DSEX could test the 6,000-point resistance level if the regulator implements the proposed margin rule changes and liquidity-enhancing measures over the next two weeks.
