The country’s stock market rose sharply on Wednesday after the announcement of new rules for circuit breakers.
At the end of the day’s trading, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE) rose over 155 points or 2.40 percent to settle at 6,630. Such a jump in the price index was the highest since January 3, 2021 when it gained 216 points.
Because of such a big rise, the market capitalisation of DSE increased to over Tk 11,000 crore in a single day.
However, market insiders have questioned the rebound as the global situation centring on the Russia-Ukraine war is deepening day by day. The US and UK have imposed sanctions on Russian oil and gas imports, which may disrupt the global supply chain and fuel the prices further, analysts say.
Dhaka stocks started trading with a positive note from the beginning on Wednesday, in line with the previous session’s upward trend.
In just over half an hour into the trade, DSEX added over 106 points, which was 1.65 percent up from the previous day’s figure of 6,474. The upward trend continued until the end of the trading.
Among other indices, the shariah-based DSES was up 30.39 points or 2.17 percent and blue-chip DS30 jumped 41.52 points or 1.74 percent.
The turnover, another key indicator on the DSE was Tk 773 crore, which was Tk 27 crore more than the previous session.
Of the shares of 378 companies traded on the day, only 3 firms saw a fall in prices, 365 firms witnessed an increase, and 10 remained unchanged.
The Textile sector soared to the top position in terms of transactions. The total turnover in this sector was Tk 101.1 crore, which was 13.49 percent of the total turnover.
The Pharmaceuticals and Chemicals sector was at the second highest position of turnover with trades worth Tk 95.4 crore and the Miscellaneous sector at the third position with transactions worth Tk 77.6 crore.
Shares of Beximco Limited were the most-traded by value amounting at Tk 40.77 crore.
Bangladesh Shipping Corporation, which was in the second place, had a turnover of Tk 29.77 crore and Fortune Shoes Limited was in the third place with a share transaction of Tk 25.65 crore.
Among the top ten-traded shares were from Dragon Sweater, Orion Pharma, Brac Bank, ACMEPL, Agni System Limited, LafargeHolcim Cement and BATBC.
Meanwhile, the overall index CASPI of the Chittagong Stock Exchange (CSE) increased 382 points to 19,400 points and securities worth Tk 24.45 crore were traded on the day.
