DSE core index hits record high

Dhaka,  Sun,  24 September 2017
Published : 13 Aug 2017, 21:05:11

DSE core index hits record high

FE Report

Stocks extended the gaining streak for the two consecutive sessions Sunday with core index hitting new high as investors showed their buying appetite on bank shares.

Dealers said the market sustained the gaining momentum as stocks from banks remained the driving force to push the index up to record high.

Bank sector kept its dominance in terms of both turnover and gain on the day with eight banks featured in the top 10 gainers' list with 2.70 per cent gain.

All 30 listed banks closed positive, led by Pubali Bank, Uttara Bank, Dutch-Bangla Bank, Shahjalal Bank, IFIC Bank, Jamuna Bank and Dhaka Bank, gaining 10 per cent, 9.79 per cent, 7.99 per cent, 6.65 per cent, 3.70 per cent, 3.50 per cent, 3.44 per cent and 3.20 per cent respectively.

The market opened with a positive note which sustained till end of the session with minor volatility, finally ended nearly 20 points higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, continued to hold its gaining momentum, adding 19.78 points more to settle at a historical high of 5,921.59, since its inception on January 27, 2013.

The country's prime bourse launched the DSE Broad Index (DSEX) on January 27, 2013 with a base point of 4,055.90, replacing the DSE General Index (DGEN).

However, DGEN, the then key index of the DSE, rose to an all-time high at 8918.51 points on December 5, 2010, when the market was bullish before crash.

Along with core index, the total market capitalisation of the DSE also rose to an all-time high of over Tk 3,979 billion on the day, surpassing the previous high of Tk 3,973 billion recorded on Thursday.

"The positive movement of the index is mostly contributed by the movement of financial sector," commented LankaBangla Securities, in an analysis.

Among the major large-cap sectors bank, non-bank financial institutions and telecommunication registered positive movements of 2.70 per cent, 0.16 per cent and 0.11 per cent respectively, said the stockbroker.

The DS30 index, comprising blue chips, also advanced 0.32 point or 0.33 per cent to finish at 2,126. However, the DSE Shariah Index (DSES) shed 3.14 points or 0.24 per cent to close at 1,311.

Turnover, the important indicator of the market fell to Tk 7.78 billion on the DSE, which was 19 per cent lower than the previous day's Tk 9.62 billion.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index - CSCX -advancing nearly 49 to settle at 11,112.

Losers beat gainers as 151 issues closed lower, 68 closed higher and 23 remained unchanged on the CSE.

The port city bourse traded 56.92 million shares and mutual fund units' worth Tk 1.37 billion in turnover.

Editor : A.H.M Moazzem Hossain
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