DSEX reaches all-time high

Dhaka,  Mon,  25 September 2017
Published : 10 Jul 2017, 19:16:29
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DSEX reaches all-time high

DSEX reaches all-time high
FE Online Report
Stocks ended higher on Monday, with key index of Dhaka Stock Exchange (DSE) hitting new high, as optimistic investors continued their buying spree amid optimism.

Market insiders attributed the current market trend to investors’ growing confidence and fresh investment in the stock market. The low bank interest rate on deposit might be another reason for increased fresh fund flow in the capital market.

“The market made another bullish move closing the index at historic high as optimistic investors continued their buying interest on large-cap issues amid optimism, said an analyst at a leading brokerage firm.

The market started with an upward trend which continued till end of the session with no sign of reversal, finally ended nearly 53 points higher.

DSEX, the prime index of the DSE, crossed the 5,800-mark and finished at 5,827 points, after advancing 52.89 points or 0.91 per cent over the previous day. It was the highest level of DSEX since its inception on January 27, 2013.

The two other indices also finished higher. The DS30 index, comprising blue chips, jumped 13.87 points or 0.65 per cent to finish at 2,122. The DSE Shariah Index (DSES) rose 5.61 points or 0.43 per cent to close at 1,320.

Turnover, another important indicator of the market, also soared to four months high to Tk 12.64 billion, which was nearly 9.0 per cent higher than the previous day’s Tk 11.60 billion.

Gainers took a modest lead over the losers, as prices of 178 securities advanced, 121 declined and 29 remained unchanged out of the 328 issues that were traded on the DSE floor.

Keya Cosmetics topped the DSE turnover chart with about 37.18 million shares worth Tk 671 million changing hands, followed by Saif Powertec, beximco, Confidence Cement and Prime Bank.

Fu-Wang Food was the day’s highest gainer, posting 8.83 per cent gain, while Kay & Que was the worst loser, losing 5.02 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index – CSCX – advancing nearly 98 points to settle at 10,917 points.

Gainers beat losers as 144 issues closed higher, 90 closed lower and 29 remained unchanged on the CSE.

The port city bourse traded 32.53 million shares and mutual fund units worth Tk 813 million in turnover.

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