The country’s stock market rose for the second day in a row yesterday, indicating growing investor confidence as the upcoming national election nears.
The DSEX, the main index that tracks all listed companies on the Dhaka Stock Exchange (DSE), gained 56 points, or 1.12 percent, to reach 5,091 yesterday. On Sunday, it had jumped 76 points, or 1.56 percent.
The DS30, which tracks the 30 largest and most actively traded companies (often called “blue-chip” stocks), rose 25 points, or 1.33 percent, to 1,964, according to DSE data.
The DSES, a shariah-compliant index for companies that follow Islamic finance principles, also climbed 14 points, or 1.40 percent, to 1,023.
A stock market analyst said many investors had been cautious in recent months because of uncertainty about the political situation.
“Now, they are gaining confidence that the election will happen smoothly, and a political transition will take place soon,” he explained.
He added that after a political change, the country’s economic outlook could improve, benefiting the profits of listed companies. “This optimism has contributed to the rising trend in the stock market.”
Market activity also picked up. The total turnover, the value of all shares traded, rose 25 percent to Tk 593 crore. Out of all traded stocks, 268 went up in price, 72 went down, and 54 stayed the same.
Meanwhile, Khondoker Rashed Maqsood, chairman of Bangladesh Securities and Exchange Commission (BSEC), said the commission will continue to support stakeholders for the welfare and growth of the capital market.
In a meeting with the newly elected leaders of the Bangladesh Association of Publicly Listed Companies (BAPLC) yesterday, he said the association plays an important role in developing and reforming the country’s capital market.
He also stressed the need for good governance, transparency, accountability, and protection of shareholders and investors.
“Everyone must do the right thing in their roles and fulfil their responsibilities properly to protect the interests of the country,” he said.
