The benchmark DSEX index climbed above the 5,900-point mark for the first time in two weeks on strong buying interest, as upbeat quarterly earnings and improving investor sentiment lifted turnover by 45%.
The DSEX closed lower after late selling erased gains above 5,900. Photo: Collected
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The DSEX closed lower after late selling erased gains above 5,900. Photo: Collected
Highlights:
- DSEX rises 60 points to close at 5,900
- Daily turnover jumps 45% to Tk1,261 crore
- Strong earnings outlook fuels broad-based buying
- Dominage Steel tops turnover chart; CSE turnover surges 287%
The country’s capital market extended its rally today (28 July), with the benchmark index reclaiming the psychologically important 5,900-point level after a gap of two weeks as renewed investor confidence and bargain hunting boosted trading activity.
The benchmark DSEX index of the Dhaka Stock Exchange (DSE) gained 60 points, or 1.03%, to close at 5,900, while daily turnover jumped 45% to Tk1,261 crore.
According to EBL Securities’ daily market review, the market advanced for a second consecutive session, supported by easing concerns over retaliatory actions in the Middle East conflict and optimism surrounding sector-specific quarterly earnings during the ongoing financial disclosure season.
The brokerage said the market opened on a positive note before broad-based buying gathered pace midway through the session, pushing the benchmark higher.
Sheltech Brokerage Limited said investor sentiment was further strengthened by stronger-than-expected quarterly earnings reported by companies with December year-ends.
Although trading remained range-bound during the early hours, buying momentum intensified in the middle of the session, lifting the DSEX to an intraday high of 5,909.79 points.
Late-session profit-taking trimmed some gains, but sustained buying pressure absorbed the selling, allowing the benchmark to retain most of its advance.
The blue-chip DS30 index also closed higher, rising 17 points to 2,219.
Broad-based gains
Market breadth remained overwhelmingly positive, with 284 stocks advancing, 60 declining and 49 remaining unchanged on the DSE.
Dominage Steel was the day’s most traded stock, followed by Saiham Cotton, ITC, Sharp Industries and Indo-Bangla Pharmaceuticals.
Among the top performers, FAS Finance and New Line Clothings hit the 10% upper circuit limit, while Argon Denims, Dominage Steel and Acme Pesticides also posted strong gains.
On the losing side, AIBL First Mutual Fund, Shyampur Sugar and Zeal Bangla Sugar were among the notable decliners.
The positive sentiment was also reflected at the Chittagong Stock Exchange (CSE), where the CSCX gained 78 points to 9,595, while the CASPI advanced 134 points to 15,738.
Turnover at the CSE surged 287% from the previous session to Tk64.48 crore, indicating stronger investor participation across both stock exchanges.
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