Dhaka stocks surged for the second consecutive day on Wednesday, as investors were regaining their confidence in the market following the political change in Bangladesh, market operators said.
The key index of the Dhaka Stock Exchange, DSEX, increased by 192.36 points, or 3.54 per cent, to close at 5,618.79 points on the day, after gaining 197.15 points in the previous session.
The DSEX posted its highest on Wednesday since May 13 when the index was at 5,666.76 points.
The key index added 389.15 points in the past two sessions after Sheikh Hasina resigned as prime minister on Monday and fled the country, ending her 15-year rule amid an unprecedented student-led mass uprising against her authoritarian regime.
The single-day surge on Wednesday was the highest in more than 43 months.
The last time Dhaka bourse surpassed a more than 190-point key index increase was in January 3, 2021, when it added 216.89 points in the DSEX.
Market operators said聽that investors felt hopeful as unrests on the streets came to an end.
They said that there were many things yet to be observed as many issues in the capital market needed to be addressed.
The country witnessed violence, with more than 350 deaths till Monday amid the student protests against discrimination.
Stockbrokers said that the market advanced as investors were regaining confidence in it.
They mentioned that the country鈥檚 situation was returning to normal and investors were increasing their activity on the buying side after a bearish trend in recent weeks.
On Wednesday, the key index began the session with a jump and continued the positive momentum until the end of the session.
The total turnover of the Dhaka bourse also witnessed a jump on the day, posting Tk聽775.55 crore, compared with that of Tk 749.99 crore in the previous session.
Of the 396 issues traded on Wednesday, 266 advanced, 114 declined and 16 remained unchanged.
The DSE Shariah index increased by 42.52 points, or 3.61 per cent, to close at 1,219.13 points on the day.
The DS30 index gained 87.43 points, or 4.51 per cent, to finish at 2,022.17 points.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by the bank and food shares.
EBL Securities in its daily commentary said, 鈥楤uyers maintained their dominance as optimistic investors kept on chasing the current rallies, while the continued price appreciation in the major blue-chip and large-capitalised scrips added much strength to the upward market momentum.鈥�
British American Tobacco Bangladesh topped the turnover chart on the day with its shares worth Tk聽54.94 crore changing hands.
Square Pharmaceuticals, Robi Axiata, City Bank, DBH Finance, The ACME Laboratories, BRAC Bank, Agni Systems, The IBN SINA Pharmaceutical Industry and LafargeHolcim Bangladesh were the other turnover leaders.