Economic Reporter :
The country’s premier bourse on Sunday posted its highest single-day point rise in the history of its new premier index, led by gains across almost all the sectors as investors were fueled by the government’s policy support.
The benchmark index of Dhaka Stock Exchange (DSE), DSEX, rose 232.23 points, or 5.59 percent, to 4,382.06 — notching the highest single-day increase since its inception.
The new index started its journey from January 27 of 2013. Since then the premier index rose 155 points, or 3.76 percent, on May 10 of 2015 which was its highest single-day rise.
Market insiders said the index rose due to announcement of policy support from the government and decision to buy shares by state-run banks.
Square Pharmaceuticals’ directors also announced to purchase shares, which impacted investors’ confidence positively, they added.
Turnover, another important indicator of the market, rose by 53.78 percent to Tk 411.36 crore.
The top 10 gainers were Beximco Pharma, ICB, Stylecraft, Heidelberg Cement, Desh Garments, Sonar Bangla Insurance, Aziz Pipes, Gemini Sea Food and Bongas.
Square Pharma topped the turnover chart followed by Singer BD, LafargeHolcim Bangladesh, KPCL, SS Steel, Grameenphone, ADN Telecom, NCC Bank, Ring Shine and Bank Asia.
The top 10 losers were SS Steel, EBL NRB Mutual Fund, Standard Ceramics, Jute Spinners, LR Global Mutual Fund-1, Progressive Life Insurance, ABB First Mutual Fund, Altex Industries, BD Services and Dhaka Dying.
On the other hand, port city bourse, Chittagong Stock Exchange (CSE) also closed at green witnessing a superb session and continuing the winning trend of previous day.
CSCX and CASPI increased sharply by 413.27 points and 677.01 points to stand at 8048.03 points and 13277.87 points respectively.
At CSE, a total of 13,259,457 shares and mutual fund of 257 companies were traded, of which 231 issues advanced while 15 declined and 11 issues remained unchanged.
The shares on the Dhaka Stock Exchange were buoyed by Prime Minister Sheikh Hasina’s instructions to prop up the markets. Hasina met capital market policymakers on Thursday to discuss ways to pull the stocks out of a slump, a day after an MP called in parliament for her intervention.
Khairul Hossain, Chairman of Bangladesh Securities and Exchange Commission, and government policymakers attended the meeting at the Prime Minister’s Office in Dhaka.
They discussed both short and long-term measures to bring “dynamism to the market”, the BSEC said in a statement. Hasina ordered the relevant authorities to implement a number of short-term measures without delay.
These include ensuring more involvement of the banks and financial institutions in the stock market, arranging loans on easy terms for merchant bankers and institutional investors, and increasing investment capabilities of the Investment Corporation of Bangladesh.
The other measures agreed in the meeting are bolstering efforts to attract foreign investors and create their confidence in the local market, increasing institutional investments, and enlisting profitable multinational and government companies on the market for raising the number of quality IPOs.
The country’s premier bourse on Sunday posted its highest single-day point rise in the history of its new premier index, led by gains across almost all the sectors as investors were fueled by the government’s policy support.
The benchmark index of Dhaka Stock Exchange (DSE), DSEX, rose 232.23 points, or 5.59 percent, to 4,382.06 — notching the highest single-day increase since its inception.
The new index started its journey from January 27 of 2013. Since then the premier index rose 155 points, or 3.76 percent, on May 10 of 2015 which was its highest single-day rise.
Market insiders said the index rose due to announcement of policy support from the government and decision to buy shares by state-run banks.
Square Pharmaceuticals’ directors also announced to purchase shares, which impacted investors’ confidence positively, they added.
Turnover, another important indicator of the market, rose by 53.78 percent to Tk 411.36 crore.
The top 10 gainers were Beximco Pharma, ICB, Stylecraft, Heidelberg Cement, Desh Garments, Sonar Bangla Insurance, Aziz Pipes, Gemini Sea Food and Bongas.
Square Pharma topped the turnover chart followed by Singer BD, LafargeHolcim Bangladesh, KPCL, SS Steel, Grameenphone, ADN Telecom, NCC Bank, Ring Shine and Bank Asia.
The top 10 losers were SS Steel, EBL NRB Mutual Fund, Standard Ceramics, Jute Spinners, LR Global Mutual Fund-1, Progressive Life Insurance, ABB First Mutual Fund, Altex Industries, BD Services and Dhaka Dying.
On the other hand, port city bourse, Chittagong Stock Exchange (CSE) also closed at green witnessing a superb session and continuing the winning trend of previous day.
CSCX and CASPI increased sharply by 413.27 points and 677.01 points to stand at 8048.03 points and 13277.87 points respectively.
At CSE, a total of 13,259,457 shares and mutual fund of 257 companies were traded, of which 231 issues advanced while 15 declined and 11 issues remained unchanged.
The shares on the Dhaka Stock Exchange were buoyed by Prime Minister Sheikh Hasina’s instructions to prop up the markets. Hasina met capital market policymakers on Thursday to discuss ways to pull the stocks out of a slump, a day after an MP called in parliament for her intervention.
Khairul Hossain, Chairman of Bangladesh Securities and Exchange Commission, and government policymakers attended the meeting at the Prime Minister’s Office in Dhaka.
They discussed both short and long-term measures to bring “dynamism to the market”, the BSEC said in a statement. Hasina ordered the relevant authorities to implement a number of short-term measures without delay.
These include ensuring more involvement of the banks and financial institutions in the stock market, arranging loans on easy terms for merchant bankers and institutional investors, and increasing investment capabilities of the Investment Corporation of Bangladesh.
The other measures agreed in the meeting are bolstering efforts to attract foreign investors and create their confidence in the local market, increasing institutional investments, and enlisting profitable multinational and government companies on the market for raising the number of quality IPOs.
