Business Desk :
Stocks soared on Sunday, the maiden session of 2021, with the core index of Dhaka Stock Exchange (DSE) exceeded 5,600-mark, as investors reacted positively to the series of market supportive measures of the securities regulator.
DSEX, the prime index of the DSE, soared 216.89 points or 4.01 per cent to settle at 5,618. It has been the highest since March 19, 2019, when DSEX was 5,631.
The DSEX also saw the biggest single-day spike on Sunday in a year since January 19, 2019, when DSEX jumped 233 points or 5.62 per cent.
Total market-cap of DSE surged Tk 164 billion over the previous session to Tk 4,646 billion, hitting a fresh all-time high on Sunday as the price of large-cap stocks keeps soaring.
Turnover, a crucial indicator of the market, stood at Tk 19.25 billion on the country’s premier bourse, climbing further by 25 per cent over the previous day’s mark of Tk 15.43 billion.
It was also the highest turnover in six months since June 28, 2019, when turnover recorded Tk 25.43 billion, thanks to block transaction of GSK Bangladesh.
Market analysts said the investors kept their buying spree on major sector stocks amid high expectations riding on the series of market supportive moves of securities the regulator, vaccination news, rolling out second stimulus packages and falling interest rates.
After passing a vibrant year, the investors’ enthusiasm sustained in the opening day the year, as the institutional investors, including global fund managers, were putting fresh bet on the market amid high hopes.
The country’s capital market passed 2020 with compared to the bourses in the region, posting a 949-point or 21.3 per cent gain, helped by large-cap stocks and supportive measures.
Factors like lower returns on the money market amid liquidity glut, hope for the Covid-19 vaccine and strong regulatory actions against wrongdoers prompted sideline investors to inject fresh funds into stocks, said a merchant banker.
