Stocks edge up on first day after election

Business Report :
Indices of the country’s stock exchanges edged up on the first day after the national election.

The benchmark index DSEX of the Dhaka Stock Exchange (DSE) rose 25 points to reach 6.269 and the blue-chip index DS30 surged 7.96 points to 2,102 on Monday.

The turnover of the DSE also jumped over 28% to Tk441 crore.

During the session, 119 scrips advanced, 44 declined and 169 remained unchanged.

Besides, the port city bourse Chittagong Stock Exchange (CSE) all-share price index CASPI jumped 59 points to reach at 18,568 on Monday.

Market participants said that there was some uncertainty among investors around the election. But as the election was completed without any major conflict, investors were somewhat relieved.

However, there are still concerns about how sustainable this rise in the market will be.

Speaking to the top executives of several leading brokerage houses in the stock market, it is known that institutional investment increased slightly in the market, which has increased the index.

The rise of the index is a big effect of the increase in the price of some shares of the banking sector.

In the stock market, there was no movement in the share prices of the banking sector for a long time. But on Monday saw the highest price increase in the shares of some banks.

Apart from this, the share prices of some companies with good fundamentals also increased.

Midland Bank topped the gainer table at the DSE, where its share price increased 9.92% to Tk15.5 each. The other top gainers are Midas Finance, BD Thai Food, Union Capital and Rupali Bank.

The worst-performing share of the day was Standard Ceramics, which was followed by Standard Insurance, Aziz Pipes and Shyampur Sugar.