Large-cap stocks drive DSE index up amid cautious trading
The DSEX, the key index of the premier bourse, jumped by 13 points to reach at 5,196, while the blue-chip DS30 index gained by 15 points to close at 1,911
The benchmark index of the Dhaka Stock Exchange (DSE) edged higher today (24 March), propelled by strong performances in large-cap stocks, even as investor sentiment remained cautious.
The DSEX, the key index of the premier bourse, jumped by 13 points to reach at 5,196, while the blue-chip DS30 index gained by 15 points to close at 1,911.
Among the traded issues, 172 stocks advanced, 151 declined, and 73 remained unchanged. Market turnover jumped by 20% to reach Tk504 crore compared to the previous session.
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EBL Securities, in its daily market review, said the benchmark index of the capital bourse returned to green territory, particularly riding on price appreciation of particular large cap stocks, although investor participation remained evident on both sides of the trading fence as market sentiment remain cautious.
Although market indices witnessed a brief spike by the start of today's session, market momentum soon moderated as investors maintained a cautious stance amid ongoing uncertainty over the market outlook, it added.
However, buying interest on particular large-cap scrips contributed significantly to help the broad index to settle in green territory, EBL Securities noted.
Large-cap stocks including Beximco Pharma, Islami Bank Bangladesh, Orion Infusion and Al-Arafah Islami Bank played crucial roles for rising the index, the EBL review said.
Navana Pharma topped the gainers' chart, with its share price surging by 7.59% to reach Tk52.4, where Beximco Pharma secured the second position with surging the price by 7.37% to reach Tk101.9 after the seven months.
On the flip side, S Alam Cold Rolled Steels was the worst performer, with its share price dropping 9.29% to Tk28.3.
