- 5592.20 DSEX, 1.09% up
- 2121.18 DS30, 0.95% up
- 1118.74 DSES, 1.07% up
- Tk7473.82cr turnover, 14% up
Dhaka stocks extended their winning streak for a fourth consecutive session on Sunday, as broad-based buying lifted the benchmark index close to the 5,600-point mark amid stronger trading activity.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), gained 60.1 points, or 1.1 per cent, to settle at 5,592, up from 5,532 in the previous session.
Analysts attributed the recovery to falling yields on government bills and bonds, which tend to increase investors’ risk appetite for higher-return securities such as equities.
With the policy rate falling by 50 basis points in July, surplus liquidity in strong banks amid slow private sector credit growth pushed the 10-year Treasury bond yield down to 8.54 per cent last week, from 10.98 per cent in April and 9.23 per cent in August.
Similarly, the yield on 91-day Treasury bills fell to 8.32 per cent on Sunday from nearly 10.2 per cent in May.
The stock market maintained its upward momentum throughout the session, with late-session buying pushing the index higher.
Alongside the easing money market conditions, analysts attributed the gains partly to bargain hunting in previously depressed stocks, although concerns over geopolitical tensions in the Gulf region continued to weigh on the market outlook, EBL Securities wrote in its post-closing market commentary.
Trading activity also improved, signalling stronger investor participation. Turnover increased 14 per cent to Tk747.40 crore from Tk655.40 crore in the previous session.
The number of trades rose to 2,01,639 from 1,83,531, while trading volume increased 20.6 per cent to 27.8 crore shares from 23 crore shares.
Textile stocks dominated market turnover, accounting for 24 per cent of total transactions. General insurance stocks contributed 13.2 per cent, followed by banks with 12 per cent, pharmaceuticals and chemicals with 11.9 per cent, and mutual funds with 7.6 per cent of total turnover on the premier bourse.
All major sectors posted gains, with mutual funds, cement and financial institutions leading the advance. The sectors gained 2.8 per cent, 2.6 per cent and 2.6 per cent, respectively.
The market breadth remained positive, with 285 of the 395 traded securities advancing, while 58 declined and 52 remained unchanged.
Among the top gainers, Khan Brothers PP Woven Bag Industries rose 9.88 per cent, ICB AMCL Sonali Bank 1st Mutual Fund gained 9.86 per cent and Prime Finance First Mutual Fund advanced 9.75 per cent.
On the losing side, Paramount Textile declined 4.31 per cent, AB Bank fell 4.26 per cent and Rahima Food Corporation dropped 3.66 per cent.
The blue-chip DS30 index gained 20 points, or 1 per cent, to close at 2,121, while the SME-focused DSMEX rose 10.2 points, or 1 per cent, to 1,044.
DSE market capitalisation increased by Tk2,180 crore, or 0.3 per cent, to Tk6,94,600 crore.
