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Inventory index hits 22-month excessive

The important thing index of the Dhaka bourse yesterday crossed 5,700 factors for the primary time in 22 months due to elevated demand within the cement, telecom and prescribed drugs sectors.

DSEX, the benchmark index of the Dhaka Inventory Trade (DSE), rose 84.70 factors, or 1.50 per cent, to five,718.

It’s because traders, who had been making earnings for the previous few days, are pouring contemporary funds into the market, in keeping with a inventory dealer. “Some had been nonetheless amassing earnings which is why a lot of the shares fell,” he mentioned.

Among the many 360 shares traded on the DSE, 128 superior, 180 dropped and 52 remained the identical.

“Folks assume that the telecom sector has enormous potential for the approaching years however their inventory costs are nonetheless at a low degree. So, the sector’s shares had been rising,” the dealer added.

Then again, turnover, an vital indicator of the market, dropped 11 per cent to Tk 1,505 crore.

Traders assume that the prescribed drugs sector will carry out higher within the coming years, so the sector has been their high demand for the previous few days, a service provider banker mentioned.

“In the meantime, banks and non-bank monetary establishments (NBFI) are going to announce dividends so these had been additionally liquid sectors,” he added.

The prescribed drugs sector accounted for round Tk 268 crore, or 16 per cent of the whole turnover, yesterday whereas it was Tk 186 crore within the NBFI sector, in keeping with knowledge from UCB Capital Administration.

Alltex Industries topped the gainers’ record, rising 10 per cent adopted by Beximco, Paramount Insurance coverage, Robi Axiata and Bangladesh Metal Re-Rolling Mills.

Beximco traded probably the most with Tk 165 crore value of shares having modified fingers adopted by Beximco Prescription drugs, LankaBangla Finance, LafargeHolcim Bangladesh and IFIC Financial institution.

Sonali Ansh shed probably the most, shedding 7.15 per cent adopted by Olympic Equipment, First Finance, Vanguard AML Rupali Financial institution Balanced Fund and Prime Financial institution.

The Chittagong Inventory Trade (CSE) additionally rose yesterday. CASPI, the final index of the port metropolis bourse, rose 277 factors, or 1.69 per cent, to face at 16,665.

Of the 290 shares traded on the CSE, 108 rose, 147 fell and 35 remained unchanged.

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