Investors remained active despite ongoing geopolitical tensions in the Gulf region, while assurances of improved gas supplies to industrial hubs appeared to boost market sentiment.
A trader reacts to index data at the Dhaka Stock Exchange. File Photo: TBS
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A trader reacts to index data at the Dhaka Stock Exchange. File Photo: TBS
The Dhaka Stock Exchange (DSE) extended its recovery for a third consecutive session today (17 September), with the benchmark DSEX rising above the 5,500-point mark amid broad-based buying across major sectors.
Investors remained active despite ongoing geopolitical tensions in the Gulf region, while assurances of improved gas supplies to industrial hubs appeared to boost market sentiment.
The DSEX gained 38.1 points, or 0.69%, to close at 5,532 compared with 5,494 in the previous session, according to DSE data. The other two major indices also advanced. The Shariah-based DSES rose 7 points, while the blue-chip DS30 gained 8 points.
Meanwhile, market turnover surged nearly 18% to Tk655 crore, while market capitalisation increased by more than Tk3,257 crores to Tk6.92 lakh crore, according to DSE data.
Market breadth was positive, with 67% of the traded stocks advancing. A total of 80 issues declined, while 47 remained unchanged.
Driven by rising indices and positive market breadth, stocks advanced in three of the five trading sessions during the week.
The DSEX posted a net gain of 17 points over the week, gaining 153 points in three sessions against a cumulative loss of 136 points in the other two.
EBL Securities in its daily market commentary said, the benchmark index of the capital bourse closed the week with sustained recovery momentum for a third consecutive session, as investors’ strong buying appetite defied concerns over the market’s near-term trajectory stemming from geopolitical tensions in the Gulf region, while signs of improving domestic gas supply to industrial areas provided some relief to investor sentiment.
“Market momentum remained firmly positive throughout the session despite mild pullbacks in the first hour from sellers, while a sustained broad based buying interest continued to reinforce the prevailing upward trend, it said.
On the sectoral front, Textile sector stocks accounted for the highest share by 26.3% of turnover, followed by General Insurance by 14.9% and Bank 12.4%.
Sectors mostly displayed positive returns, where Mutual Fund by 3.6%, General Insurance by 3% and Cement 1.9% exhibited the most gains, while only Travel exhibited the marginal corrections on the bourse today.
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