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DSEX hits new high after monetary policy

  • Staff Correspondent
  • 3 August, 2021 12:00 AM
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DSEX hits new high after monetary policy

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The key index of the Dhaka Stock Exchange (DSE) reached a new high on Monday as investors showed buying spree after the Bangladesh Bank unveiled another expansionary monetary policy statement.

DSEX, the benchmark index of the DSE, went up by 56.31 points or 0.87 per cent to settle at 6,481, the highest since its inception more than eight years back in 2013.

The blue-chip index DS30, a group of 30 prominent companies, also rose 16.22 points to settle at an all-time high at 2,344, the highest since its inception on January 27, 2013. The DSE Shariah Index also rose 11.10 points to close at 1,412.

 The market capitalisation of the DSE also hit a fresh all-time high at Tk 5,378 billion on Monday, surpassing the previous high of Tk 5,352 billion recorded just two weeks back.

Turnover, another important indicator of the market, jumped to a two-month high at Tk 21.88 billion, which was 44 per cent higher than the previous session’s turnover of Tk 15.21 billion.

Market experts said stocks extended their record-breaking rally as investors continued to put fresh bets on large-cap stocks, anticipating positive momentum in coming days after the Bangladesh Bank unveiled another expansionary monetary policy.

Stocks remained bullish amid growing investors’ confidence driven by various market supportive reforms, lower returns from the money market coupled with earnings surprises of some listed firms despite the pandemic, said a top broker.

The stock market regulator took some market supportive measures in the past few months which boosted the investors’ confidence and lured them to park fresh funds on stocks, he said.

He noted that mass vaccination roll-out and new stimulus packages for the low-income people helped investors to keep their confidence in the market despite virus worries.

Gainers took a strong lead over the losers, as out of 375 issues traded, 232 ended higher, 109 lower while 25 remained unchanged on the DSE trading floor.