Business Desk :
Stocks extended the winning streak for the fourth straight session on Monday as investors put a fresh stake on stocks amid growing confidence in the market.
DSEX, the key index of the Dhaka Stock Exchange (DSE), went up by 20.59 points or 0.40 per cent to settle at 5,147. It was the highest level of DSEX since August 28, last year when it was 5,178.
Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 14.45 points to finish at 1,813 and the DSE Shariah Index rose 11.88 points to close at 1,192. The DSE market-cap also rose to Tk 4,168 billion on Monday, hitting more than 21 months high since March 19, last year when market-cap recorded Tk 4,177 billion.
Turnover, a crucial indicator of the market, however, fell slightly to Tk 9.79 billion, which was more than 2.40 per cent lower than the previous day’s turnover of Tk 10.03 billion. Market operators said the investors’ enthusiasm sustained, as the institutional investors, including global fund managers, were putting fresh stakes on large-cap stocks amid positive expectation.
The optimistic investors continued their buying spree on sector-wise large-cap issues amid growing confidence riding on regulatory moves and gradual improvement of economic activities, said a merchant banker.
He noted that the regulator is continuing its effort to enhance the market depth through the listing of large-cap companies having good fundamentals and the news that some big companies are waiting for necessary approval for listing, also tempted the investors to stay afloat.
Stocks extended the winning streak for the fourth straight session on Monday as investors put a fresh stake on stocks amid growing confidence in the market.
DSEX, the key index of the Dhaka Stock Exchange (DSE), went up by 20.59 points or 0.40 per cent to settle at 5,147. It was the highest level of DSEX since August 28, last year when it was 5,178.
Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 14.45 points to finish at 1,813 and the DSE Shariah Index rose 11.88 points to close at 1,192. The DSE market-cap also rose to Tk 4,168 billion on Monday, hitting more than 21 months high since March 19, last year when market-cap recorded Tk 4,177 billion.
Turnover, a crucial indicator of the market, however, fell slightly to Tk 9.79 billion, which was more than 2.40 per cent lower than the previous day’s turnover of Tk 10.03 billion. Market operators said the investors’ enthusiasm sustained, as the institutional investors, including global fund managers, were putting fresh stakes on large-cap stocks amid positive expectation.
The optimistic investors continued their buying spree on sector-wise large-cap issues amid growing confidence riding on regulatory moves and gradual improvement of economic activities, said a merchant banker.
He noted that the regulator is continuing its effort to enhance the market depth through the listing of large-cap companies having good fundamentals and the news that some big companies are waiting for necessary approval for listing, also tempted the investors to stay afloat.
