Dhaka stocks rally on election optimism, DSEX gains 56 points
Market insiders said the upbeat sentiment fueled fresh buying in fundamentally strong but undervalued stocks, while analysts cautioned that the rally could be tempered if new political or economic uncertainties emerge.
The Dhaka stock market rallied today (9 December), with the benchmark DSEX climbing 56 points for a second consecutive session as investors reacted positively to growing optimism over potential clarity ahead of the upcoming national election.
Market insiders said the upbeat sentiment fueled fresh buying in fundamentally strong but undervalued stocks, while analysts cautioned that the rally could be tempered if new political or economic uncertainties emerge.
The DSEX surged 56 points, or 1.15%, to close at 4,962, adding a total of 90 points over the past two sessions. The blue-chip DS30 index gained 14 points to settle at 1,907, while the DSES rose in tandem. Market breadth was overwhelmingly positive, with 317 issues advancing, 35 declining, and 37 remaining unchanged.
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Turnover at the Dhaka Stock Exchange (DSE) jumped 26% to Tk458 crore from the previous session, reflecting improved trading appetite. EBL Securities noted that the recovery was fueled by investors' expectations of political clarity, which could reduce recent market uncertainty. "Broad-based price appreciation across most scrips suggests opportunistic investors are returning for potential quick gains," the brokerage said, adding that the rebound provided "some respite after a prolonged period of weak sentiment."
On the sectoral front, pharmaceuticals led activity, accounting for 14.1% of total turnover, followed by engineering (13%) and textiles (12.5%). Nearly all sectors posted gains, with jute climbing 5%, general insurance rising 4.2%, and IT advancing 3.5%. Telecom was the only sector to decline, slipping 0.7%.
Orion Infusion topped the turnover chart, followed by Simtex Industries, Khan Brothers PP Woven Bag, Dominage Steel, and Acme Pesticide. Among top gainers, Usmania Glass and Standard Insurance rose 10% each, while Jute Spinners gained 9.99%, Standard Ceramic 9.97%, and Northern Jute 9.95%. On the losers' side, International Leasing fell 6.66%, ICB Islamic Bank dropped 3.84%, and Peoples Leasing and Simtex Industries each shed 3.33%. Union Capital slipped 3.22%.
The positive trend was mirrored on the Chattogram Stock Exchange (CSE), where both key indices closed higher. The CSCX rose 55 points to 8,506, while the CASPI jumped 98 points to 13,797, with turnover reaching Tk15.62 crore.
