Dhaka stocks on Sunday gained for the fourth consecutive session, with the turnover hitting its highest in nearly 23 months, as investors significantly increased their participation in the market hoping to book profits, market operators said.
The Dhaka Stock Exchange posted Tk 2,010.08 crore as its total turnover on the day, compared with that of Tk聽1,606.47 crore in the previous session.
The previous highest turnover of the Dhaka bourse was on September 20, 2022, posting Tk聽2,832.30 crore.
DSEX, the key index of the DSE, also witnessed a rise on the day, hitting highest in five months.
The key index increased by 91.09 points, or 1.53 per cent, to close at 6,015.90 points, after gaining 306.02 points in the previous session, which was the highest single-day surge after March 19, 2020, when the index gained 371.01 points.
Before Sunday, the DSEX posted its highest at 6,058.39 points on March 11, 2024.
The key index started rising continuously after August 5, following Sheikh Hasina鈥檚 resignation as prime minister on Monday and fleeing from the country, ending her 15-year rule amid an unprecedented student-led mass uprising against her authoritarian regime.
The DSEX added 786.64 points in the past four sessions.
Ashequr Rahman, managing director of Midway Securities, told 抖阴精品 that investors were feeling hopeful about a potential change in the system towards betterment.
鈥極ur market was in a bearish vibe for a prolonged period, especially during the past commission, as it was continuously manipulated in an unbelievable manner,鈥� Ashequr said.
鈥楽o, when investors understood that the BSEC might be changed towards betterment, they got eager to get more involved, getting especially interested in the fundamentally good shares,鈥� he added.
Market operators said that the sustainment of the rise of the stocks prices would depend on the commitment of the new administration.
However, experts said that as there was no clear indication of a sustained upward trend, investors should remain careful before injecting funds in the market.
On Sunday, the key index began the session with a jump, but fell for some time on mid-session. Then the index started to rise again and continued the positive momentum until the end of the session.
Of the 400 issues traded on Sunday, 173 advanced, 207 declined and 20 remained unchanged.
Market operators said that the market witnessed an upward trend for the past few days, and saw a little bit of price adjustment on Sunday.
The DSE Shariah index increased by 10.36 points, or 0.81 per cent, to close at 1,285.27 points on the day.
The DS30 index gained 51.62 points, or 2.42 per cent, to finish at 2,184.35 points.
On the sectoral front, bank issues exerted the highest turnover, followed by the pharmaceutical and telecom shares.
EBL Securities in its daily commentary said, 鈥楾he market opened with strong upward momentum, adding 291 points in the first 30 minutes of the session as buyers rushed to the rallying scrips.鈥�
鈥楬owever, indices cooled down due to the subsequent profit-booking sell-offs as the market experienced significant gains in recent times owing to the notable shift in investor sentiment,鈥� it added
Grameenphone topped the turnover chart on the day with its shares worth Tk聽138.68 crore changing hands.
British American Tobacco Bangladesh, BRAC Bank, Robi Axiata, City Bank, Square Pharmaceuticals, Mutual Trust Bank, IFIC Bank, Dhaka Bank and Global Islami Bank were the other turnover leaders.