Business Report :
Stocks closed higher on Thursday, driven by buoyant investor sentiment and renewed interest in promising shares following the removal of the lower circuit breaker limit.
DEX, the prime index of the Dhaka Stock Exchange (DSE), increased by 47.71 points to close the day at 5,804.42.
The Bangladesh Securities and Exchange Commission (BSEC) reinstated the lower limit of the circuit breaker mechanism to 10 per cent from 3 per cent for all publicly traded companies, along with other regulatory decisions made on Wednesday. This move has bolstered investor confidence.
Investors are optimistic about the return of good governance in the market as the massive reforms are underway in the financial sectors, including the capital market. Additionally, the United Kingdom has shown interest in supporting reforms in the capital market alongside the banking and revenue sectors.
The blue-chip index DS30, a group of 30 prominent companies, saw a 6.77-point increase to 2124.71, while the DSES Index, which represents Shariah-based companies, saw a 6.89-point increase to 1,241.26 till the end.
The benchmark index of the Dhaka bourse sustained the upbeat vibe, with buyers being dominant across the trading floor as recent reformation attempts taken by the stock market regulator have somewhat revived investor confidence to take positions in equities, EBL Securities said.
Turnover, a crucial indicator of the market, stood at Tk 9.63 billion, up 7.2 per cent from the previous trading day.
The majority of the stocks saw a price increase, as out of the 397 issues traded, 298 closed higher, 67 ended lower, and 32 remained unchanged on the DSE trading floor.