Bank stocks propel DSEX to 16-month high

block

Business Report :
The benchmark index DSEX of the Dhaka Stock Exchange (DSE) reached a 16-month high, surpassing the 6,400 points mark on Sunday. This notable surge was primarily fueled by the strong performance of bank stocks, despite facing selling pressure in other sectors.
At the end of the session, the DSEX registered a gain of 73 points, settling at 6,447, while the blue-chip index DS30 saw a surge of 21 points, closing at 2,159.
Earlier, on 16 October 2022, the DSEX was over 6,400 points.
The Business Standard Google News Keep updated, follow The Business Standard’s Google news channel
The turnover stood at Tk1,852 crore during the session.
At the Dhaka bourse, 196 scrips declined, 165 advanced, and 33 remained unchanged.
Market insiders said investors displayed heightened activity in purchasing bank shares, which had long been restricted by the floor price, during the session.
Meaning that potential investors, who invested in the capital market for the long term by investing in fundamental stocks, are back in the market, they added. Out of 35 listed banks, 34 advanced. SBAC, Social Islami Bank, National bank, ICB Islamic Bank and AB Bank spearheaded the banking sector’s upward momentum during the Sunday market session.

block