DSEX crosses 6,600 mark after four months

The DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), crossed 6,600 points on Monday after four months, riding on the confidence of some high net worth individuals.

The prime index of the DSE edged up 65 points or 1% to reach 6,600, maintaining its upward trend three consecutive days.

Stockbrokers said a fresh inflow of funds, mostly from high net worth individuals feeling confident about market direction and the price of select stocks, was behind the trajectory.

EBL Securities, in its daily market commentary, said the market saw an upsurge right from the start of the session as investors continued to inject fresh funds into select large cap stocks in the hope of quick gains, while most other stocks experienced corrections.

Two other indices also closed higher. 

The DS30 Index, composed of blue chip companies, rose 42.59 points to close at 2,406 and the DSES Index advanced 15.72 points to finish at 1,451.

Turnover in the premier bourse increased to Tk1,990 crore on Monday from Tk1,814 crore in the previous session.

Stocks have been onn a declining trend since October, 2021 while the Ukraine war triggered more selling in February.

However, at the end of July, the regulator imposed a price floor on individual scrips which arrested the market fall. The market has since continued to recover.

Due to a number of trendy large cap stocks dominating, 88 advancing scrips more than offset the negative impact of 155 declining scrips at the DSEX.

However, 128 scrips remained unchanged, mostly because they were stuck on the price floor.

On the sectoral front, miscellaneous, pharmaceuticals and engineering sectors contributed a maximum of 24.5%, 21.3%, and 9.4% respectively to the daily turnover of the DSE.

Beximco became the most-traded stock with shares worth Tk 279 crore changing hands.

Miracle Industries topped the gainer list, followed by the Bangladesh Shipping Corporation, and Atlas Bangladesh.

Sonargaon Textile lost the most, followed by Northern Jute, and Bangladesh National Insurance.

CSCX, the major index of the Chittagong Stock Exchange, also closed 1% higher on Monday, while turnover at the port-city bourse shot to over Tk93 crore, from less than Tk40 crore in the previous session.