The Dhaka Stock Exchange (DSE) witnessed a substantial surge on the initial trading day of the week, achieving the highest value in ten months. This was primarily driven by an upswing in blue-chip stocks along with a noticeable improvement in investor sentiment fueled by potential signs of macroeconomic retrieval. The DSEX index experienced a jump of about 92.72 points, which is roughly 1.70 percent, culminating at 5,536. The last time it reached a similar height was on October 1st of the previous year, closing at a value of 5,586.
This upward trend didn’t limit itself to a single event, but rather the index achieved growth for the third consecutive session. The other indicators of the DSE were not devoid of this positive momentum. By the end of the trading day, all indices closed having shown promising performance.
The DSES index, which faithfully adheres to Shariah-compliant regulation rules, surged 1.96 percent, settling at 1,193. The DS30 index that represents blue-chip companies showed the same percentage gain, closing at 2,150. As for the volume of shares traded on DSE, it inflamed to Tk 1,137.40 crore from its Tk 1,063.39 crore value in the previous session.
The market, considering the general evaluation, was greatly underestimated, prompting a reasonable recoil. The index had experienced a substantial fall of roughly 12 percent since the start of the year. This situation created an enticing opportunity for many stocks to bring in new investors.
The market’s upward turn was influenced by the increasingly encouraging macroeconomic indicators. Fluctuations in the exchange rate reduced as there has been a visible climb in foreign exchange reserves. Other productive economic figures, such as decreasing inflation metrics, have also indicated potential recovery.
These favorable conditions are instilling more confidence in investors. The bond market is also playing its part in this optimistic scenario. More specifically, the treasury bonds’ interest rates have been seen to be declining lately. This forms an inverse relationship with the stock market index, causing the latter to increase.
To add to that, there have been progressive modifications in the stock market’s governance system. These adjustments have been successful in attracting prudent investors to consider injecting money into the market. Excellently performing companies’ stocks, including those of Brac Bank, Bangladesh Submarine Cables, Square Pharmaceuticals, and British American Tobacco, have significantly contributed to the uplifting of the index.
During this cycle, a total of 264,502 trades were conducted. The total of block transactions reached a considerable Tk 33.79 crore in 38 scrips. Contrasting the market’s comprehensiveness, it was predominantly positive, with 218 stocks advancing, 122 backsliding, and 58 maintaining stability.
Reviewing the A-category scrips, there were 142 successes, 54 failures, and 23 kept their ground. The B-category also portrayed a mainly positive picture, with 42 stocks gaining ground, 33 slipping back, and no N-category movements to report.
The individual performances across different segments yielded mixed results. Looking at mutual funds, there were 18 issues on the positive side against 8 experiencing a decline. The corporate bonds landscape saw an upswing with only one issue, and in the government bonds market, just one issue recorded an advance.
Highlighting individual players, Standard Bank claimed the top of the gainers’ list with a significant 10 percent surge, while on the other hand, the SEML Lecture Equity Management Fund suffered the most, recording a 9 percent decrease.
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