Alongside the bullish trend, the stock market saw market-cap of Dhaka Stock Exchange (DSE) climbing to a historical high. The bayonet investors’ vigorous participation made it happen.
The market capitalization of the prime bourse surged by Tk 226 billion or 4.01 per cent in the outgoing week to reach an all-time high at Tk 5.86 trillion.
The value of large-cap listed securities such as British American Tobacco, Grameenphone, Beximco Pharma, Square Pharma and Walton soared substantially. The stock price of British American Tobacco jumped 12.60 per cent, followed by Beximco Pharma with 8.68 per cent, Square Pharma 8.15 per cent, GP 6.67 per cent and Walton 3.12 per cent.
The core bourse of the DSE, DSEX, swelled the 7,200-mark for the first time during the week to settle at 7,258, after soaring 277.69 points or 3.98 per cent as all five trading days of the week closed higher.
The week’s total turnover on the DSE stood at Tk 138.88 billion against Tk 89.36 billion in the previous week as last week saw five trading days instead of the previous week’s four.
The daily average turnover stood at Tk 27.77 billion on the country’s premier bourse, which was 24.32 per cent higher than the previous week’s average of Tk 22.34 billion.
Chittagong Stock Exchange (CSE) also stayed upbeat with the CSE All Share Price Index – CASPI -soaring 803 points to settle at its historical high at 21,131 and the Selective Categories Index – CSCX rising 490 points to close at new high at 12,673. The port-city bourse traded 158.32 million shares and mutual-fund units with turnover value of Tk 4.68 billion.
High confidence of investors, lower interest rate and excess liquidity in the banking sector- are the major reasons for the trade hike. However, most junk stocks posted higher prices in recent weeks, which is risky for investors.
Source: The Financial Express