Written by The Banking Post
Dhaka stocks surged for the second consecutive day yesterday, with the benchmark index climbing to its highest level in nearly a year.
The DSEX gained 76 points, or 1.38 percent, to close at 5,594 — the highest since September last year when it stood at 5,624, according to Dhaka Stock Exchange (DSE) data.
Other indices followed suit. The Shariah-based DSES rose 1.69 percent to 1,227.70, while the blue-chip DS30 advanced 1.70 percent to 2,193.72.
Turnover also picked up, reaching Tk 1,296.43 crore, compared with Tk 1,132.31 crore the previous session. More than 325,000 trades were executed, including block transactions worth Tk 36.67 crore across 31 scrips.
Despite the upbeat momentum, analysts voiced caution as financially weak or “junk” firms dominated the day’s top gainers. Bay Leasing and National Tea Company both rose by the maximum 10 percent, while Shyampur Sugar Mills, Orion Pharmaceuticals and Evince Textile also surged.
“This is not a good sign,” warned Saiful Islam, president of the DSE Brokers Association. “If fundamentally strong companies are not brought to the market, weaker ones will continue to dominate trading. Eventually, small investors suffer the most.”
Of the 201 advancing issues, 105 were A-category companies considered stable, though none featured in the top five gainers’ list. Market breadth was positive, with 141 declining and 56 remaining unchanged.
At the Chittagong Stock Exchange, the CASPI index gained 1.51 percent, or 232 points, to close at 15,598. There, 160 stocks advanced, 70 declined and 30 remained flat.
