DSE’s prime index crosses 6,200 points

The DSEX yesterday rose to its highest point in the last three-and-a-half years thanks to increased investor participation.

The benchmark index of Dhaka Stock Exchange (DSE) surged by 69 points, or 1.12 per cent, to hit 6,219.94, which is the highest since January 7, 2018, when the index stood at 6,268 points.

"Since trading has continued amid the ongoing strict lockdown, investors no longer fear that the market will be shut," said a stock broker.

When the coronavirus outbreak began in March last year, Bangladesh's stock market was closed down for about two months in the face of a nationwide "general holiday".

If the market remains closed, it disheartens institutional and foreign investors.

So, general investors were similarly tense about whether the market would be shut down again as a part of the ongoing strict lockdown measures.

But the apprehensions have dissipated and people are now investing, he said.

Still, concerns remain about the performance of listed companies.

As consumption decreased amid the current crisis, so too did production.

"This might affect the profitability of certain companies and so, investors are still cautious," added the broker.

Turnover, another important indicator of the market, rose 10 per cent to Tk 1,551 crore yesterday even though the day's trading period was shortened by one-and-a-half hours, till 1:00pm.

At the DSE, 243 stocks advanced, 119 declined and 11 remained unchanged.

Yeakin Polymer topped the gainers' list, rising 10 per cent, followed by Zaheen Spinning Mills, Khan Brothers PP Woven Bag Industries, Tallu Spinning Mills and Bangladesh Industrial Finance Company.

Stock of Beximco were traded the most, with Tk 73 crore worth of shares changing hands, followed by ML Dyeing, Keya Cosmetics, Sandhani Life Insurance Company, and Maksons Spinning Mills.

Monno Fabrics shed the most, falling 9.80 per cent, followed by Purabi General Insurance Company, Agrani Insurance Company, Bangladesh Monospool Paper Manufacturing Company, and Global Insurance.

Meanwhile, the port city bourse also rose as the CASPI, the general index of the Chittagong Stock Exchange, advanced 240 points, or 1.35 per cent, to 18,035.

Among 304 stocks to witness trade, 215 advanced, 71 dropped and 18 remained unchanged.