The Dhaka stock index has edged up as investors were in a buying spree spurred by growing export earnings of the country.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), rose 29 points, or 0.42 per cent, to 6,882 yesterday. This was the third day of a continuous rise amounting to 2 per cent or 151 points.
Investors’ confidence grew with news of higher export earnings last month, said a top official of an asset management company.
December’s export earnings were 48.27 per cent higher year-on-year as exporters raked in $4.9 billion.
It was $3.3 billion in the same month in 2020, according to data from the Export Promotion Bureau.
In 2021 overall exports made a 32 per cent year-on-year gain to $44.22 billion from $33.6 billion in 2020.
It gives a clear indication of strong economic recovery amidst the new challenges posed by the Omicron variant of the coronavirus pandemic, said the asset manager.
Exports-focused textile companies underwent a rising trend due to the higher earnings, he added.
Among 58 listed textile and readymade garment companies, stocks of 46 rose, nine dropped and three remained unchanged, shows the DSE data.
The DS-30, the blue-chip index of the DSE, rose 15 points, or 0.60 per cent, to 2,576.
At the DSE, 217 stocks advanced, 132 fell and 28 remained the same.
Turnover of the premier bourse soared 47 per cent to Tk 1,314 crore, up from the previous day’s Tk 894 crore.
Stocks of eGeneration topped the gainers’ list, rising 9.98 per cent, followed by Fareast Islami Life Insurance Company, Taufika Foods and Lovello Ice-Cream, Ring Shine Textiles and RN Spinning Mills.
The Sonali Paper and Board Mills shed the most, dropping 7.49 per cent, followed by Atlas Bangladesh, Libra Infusions, Agricultural Marketing Company (Pran) and Dacca Dyeing & Manufacturing Company.
Stocks of Beximco topped the turnover list with trade worth Tk 181 crore followed by Bangladesh Shipping Corporation, Fortune Shoes, Power Grid Company of Bangladesh, and The Peninsula Chittagong.
Chittagong Stock Exchange (CSE) continued to go up. The CASPI, the main index of the CSE, soared 102 points, or 0.51 per cent, to 20,157 yesterday.
