DSEX closed at its highest level since March 19, 2019
The Dhaka bourse picked up where it left in 2020: on a gaining streak.
On Sunday, the first day of trading in 2021, DSEX, the key index of the Dhaka Stock Exchange, posted a gain of 4 per cent, its biggest since August 9, 2020, to close at 5,618 points, its highest level since March 19, 2019.
The index has been on a seven-day gaining streak as general investors are increasingly feeling assured of the current stock market regulating body’s intent to safeguard their interests.
The regulator’s move to allow the brokerage houses to open new branch offices across the country after nine years, the lowest single-day number of new cases in eight months and hope for a Covid-19 vaccine also buoyed the market, said International Leasing Securities in its daily market commentary.
The securities regulator’s move to scrap the lottery system introduced for general investors for an initial public offering and allow every applicant to get shares on a pro-rata basis also lifted the market.
In 2020, Bangladesh’s capital market yielded the highest returns among Asia's emerging economies: DSEX, gained 21.3 per cent, the highest among its peers, despite the 66-day recess for the countrywide general shutdown to slow the spread of coronavirus, according to LankaBangla Securities.
This was quite the turnaround for DSEX, which fell 17.3 per cent in 2019 while bourses in emerging Asian countries registered growth.
Turnover at the DSE yesterday soared 24.8 per cent to Tk 1,925 crore.
The investors' activity was mostly centred on pharma (18.7 per cent), bank (13 per cent) and miscellaneous (11.6 per cent) sectors.
Beximco, International Leasing and Financial Securities, Islamic Finance and Investment and Saif Powertech all posted gains of 10 per cent.
IFIC was the top traded stock, followed by Beximco Pharma and Beximco.
Among the traded issues, 253 gained, 58 declined and 50 remained unchanged.