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DHAKA, Mar 2, 2021 (BSS) – Country’s both bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), today closed trading extending the gaining streak.
At DSE, the broad index, DSEX settled at 5,508.27 points with a gain of 81.44 points or 1.50 percent. Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES also went up by 38.76 points and 16.67 points to settle at 2,108.16 points and 1,245.75 points respectively.
On the other hand, DSE’s turnover, a crucial indicator of the market, stood at Taka 8339.449 million from Taka 6180.040 million in the previous session.
Gainers took lead over losers as out of 233 issues traded, 233 securities gained price while 44 declined and 233 remained unchanged.
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Despite jitters, 2020 was a banner year for stocks
Despite all the economic uncertainty amid the ongoing coronavirus pandemic, 2020 saw growing investor confidence in the country s stock market, which rose by more than 20 per cent this past year.
DSEX, the benchmark index of the Dhaka Stock Exchange, stood at 4,453 points at the beginning of the year on January 1 while it was 5,402 by the end of December.
A number of indications influenced the upward trend in investor confidence, such as a change to the market regulator s long-standing leadership and policy support from Bangladesh Bank, according to market analysts.
The year will also be remembered for the abnormal rise of insurance stocks, which almost doubled in value amid the current crisis.
The seven loss-incurring companies deal with producing sugar, motorcycles, hotel services, cables and glass sheets.
A big number of government run companies are not giving any dividends for many years so the stocks are providing nothing to their investors, said stock investor Abdul Alim.
Renwick Jajneswar and Usmania Glass did not provide any dividend for the last two years.
Moreover, Shyampur Sugar and Zeal Bangla Sugar have not paid any dividends in at least for the past two decades, the DSE data shows.
The state-run sugar mills are 60 years old but their economic lifespan ended at least 30 years ago, said Sanat Kumar Saha, chairman of the Bangladesh Sugar and Food Industries Corporation (BSFIC).