DSEX hits 26-month high as capital market ends week upbeat
Staff Correspondent bdnews24.com
Published: 2017-01-05 20:41:02.0 BdST Updated: 2017-01-05 20:41:02.0 BdST
The share market has ended the week on the front foot gained on the opening day of the New Year.
On Thursday, both indices and turnovers at the two bourses rose in a reflection of the broadly upbeat mood.
The DSEX at Dhaka Stock Exchange (DSE) hit 26-month high at 5182. On Oct 21, 2014, it was 5233.
Asian Tiger Capital Partners Asset Management Limited CEO Emran Hasan thinks the market regaining the investors’ confidence, its remaining in the most suitable state for investment, and stable political condition have played a big role in turning things around.
“There are not many places to invest in other than the capital market now. The interest rate on FDR in banks and in savings certificates has decreased. So the money is coming to the share market,” he said.
According to Bangladesh Bank, the rate of interest on bank deposit was 7.26 percent in 2015. It dropped to 5.33 percent in October 2016.
Until Thursday, the DSEX has increased 1010 points or 24.23 percent from 4171 of May 2 last year.
Emran said the people are even investing in the share market by cashing their savings certificates.
He, however, suggested that the investors keep an eye on manipulation of shares that are not fundamentally strong.
On Thursday, shares and mutual funds worth Tk 12.45 billion changed hands at the DSE. The turnover was up 3 percent from Wednesday.
Out of 326 traded issues, 147 gained, 138 declined and 41 remained unchanged.
On Chittagong Stock Exchange (CSE), the CASPI rose 96 points to 15944.
The turnover was Tk 734.2 million, up 38 percent from Wednesday.
Out of the 261 traded issues, 119 gained, 118 dropped and 24 remained unchanged.
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