DSEX crosses 6,000-mark after 39 months

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), crossed the major threshold of 6,000 points after 39 months on Sunday.

Before Sunday's trading session, the last time DSEX was above 6,000 points was on 15 February, 2018.

At session end, the index added 22.87 points and closed at 6,008, thanks to the banking, non-bank financial institution, mutual fund, and cement sectors.

EBL Securities said in its daily market commentary that the stock market surged on an investor buying frenzy, showing great confidence in the leadership of the new regulatory commission.

"Driven by earnings surprises, capital gains optimism in bank stocks drove the upward momentum on Sunday, while hyped up insurance stocks saw pressure to sell on the bourse," the market review added.

A top official of a leading brokerage firm said, "In view of the upcoming budget, some investors are buying shares to whiten black money as the window for that opportunity will close on 30 June."

Turnover at the DSE stood at Tk2,149.21 crore on Sunday, 9% lower than in the previous trading session.

Beximco Limited topped the turnover chart, while Pioneer Insurance and Ifad Autos were the other market movers.

Investors got their highest returns of 3.7% from mutual funds, 2.7% from the ceramic sector, and 2.6% from the life insurance sector.

Dutch Bangla Bank secured top position in the gainers' list, followed by Ifad Autos, and Aftab Auto. On the other hand, Delta Spinning, Imam Button, and Taufika Foods were the top three losers of the day.

Of the total securities traded on Sunday, 144 advanced, 174 declined, and 46 remained unchanged on the DSE trading floor.

At the port city bourse, the Chittagong Stock Exchange, its main index CASPI also advanced 31 points to reach 17,379.