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Stocks pass 6,000 points after over 3 years
Star Business Report
Star Business Report
Dhaka stocks yesterday crossed 6,000 points for the first time in more than three years thanks to increased participation of buoyant investors going after banking stocks.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), rose by 22 points, or 0.32 per cent, to 6,008.69, the highest since February 15, 2018.
Among the major sectors, banks, mutual funds and non-bank financial institutions (NBFIs) experienced price appreciation while IT, jute and general insurance saw corrections.
Turnover, another important indicator of the market, fell nine per cent to Tk 2,149 crore. The banking sector dominated the turnover chart, accounting for 23.10 per cent of the total.
As the market has maintained a rising trend, investor confidence grew, said a stock broker.
Now many are investing into banking stocks, fuelling the index, he said, adding that paid-up capital of banking stocks was higher, for which the sector had a big impact on the index.
If investors invest into stocks which do not have good performance records, they will incur losses and so should be careful, the broker added.
The DSE s turnover, an important indicator of the market, surged 13.49 per cent to Tk 2,365 crore.
At the bourse, 163 companies stocks rose, 143 fell and 58 remained the same.
Northern Insurance topped the gainers list rising 9.98 per cent followed by Pragati Life Insurance, Green Delta Life Insurance Company, Pioneer Insurance and Progressive Life Insurance Company.