DSE market cap rises Tk10,750cr last week

The Dhaka Stock Exchange (DSE) experienced a robust performance in the past week, with market capitalisation surging by Tk10,750 crore.

The benchmark index DSEX of the Dhaka bourse jumped by 64 points, or 1.27%, closing at 5,132. The blue-chip DS30 also saw significant gains, rising by 28 points, or 1.47%, to settle at 1,936. Out of the total traded stocks, 290 advanced, 80 declined, and 24 remained unchanged.

Market activity, measured by turnover, witnessed a 7% increase, reaching Tk681 crore, indicating heightened investor participation. Following the index's climb, the market capitalisation rose by 1.59% to reach Tk6.87 lakh crore.

EBL Securities, in the weekly market report, said the benchmark index of the capital bourse extended its bullish trajectory last week as investor positive market sentiment remained resilient bolstered by the central bank's decision to cut the reverse repo rate by 50 basis points and rising expectations of an imminent overnight repo rate or the main policy rate cut amid signs of easing inflation.

Despite taking a three-session breather early in the week due to sector-specific profit booking, the bullish momentum regained strength in the latter half following the reverse repo rate cut announcement, it added.

EBL Securities further said that the bullish momentum persisted through the end of the week with a surge in investors' participation, supported by growing optimism surrounding the upcoming earnings and dividend declaration season.

Investors were mostly active in the banking sector which contributed 13.6% to the DSE total turnover, followed by pharmaceutical sector and textile sector. All the sectors ended in green, with the paper sector being the biggest gainer.

BRAC Bank was the top-traded stock, contributing 3.03% to the DSE total turnover, which was followed by Sea Pearl Beach Resort and Khan Brothers PP Woven Bag.

Apex Spinning led the gainers' list as its share price jumped by 23.89% to reach Tk128.60, which was followed by Monospool Paper, which rose by 20.79% to Tk109.8 per share.

On the other end, SEML Lecture Mutual Fund was the top loser last week, dropping 11.54% to Tk11.50, followed by Sea Pearl Beach Resort and Express Insurance.