Stock trading in Dhaka reaches a 47-week peak, with a turnover of Tk1,063 crore.
On July 31, 2021, the Dhaka Stock Exchange (DSE) experienced a notable increase in turnover, reaching around Tk 1,063 crore[1], marking one of the highest volumes in recent months. The market indices soared, with all three key indices ending higher that day[2].
The banking sector stocks played a significant role in the market rebound, contributing notably to the turnover, accounting for about 30% of the total turnover in recent sessions around that time[3]. This indicates considerable investor interest and positive momentum in banking stocks alongside the overall market uptrend.
On that day, a total of 29 banks' stock prices surged, with Trust Bank having the highest gain with a 9.90% increase in its shares to Tk 22.2 each[6]. Southeast Bank and Sonar Bangla Insurance also saw increases of 9.89% and 9.88% respectively, with their shares reaching Tk 10 each and Tk 28.9 each[7][8].
Three banks' shares remained unchanged on the Dhaka Stock Exchange[3]. However, no specific information about the banking sector stocks that contributed to the price jump was provided.
The surge in Dhaka stocks came a day after the Bangladesh Securities and Exchange Commission imposed a lifetime ban on Salman F Rahman, Ahmed Shayan Fazlur Rahman, and Shibli Rubayat-Ul-Islam over serious violations and irregularities in issuing IFIC Amar Bond[9]. The reasons for the decline in 167 stocks and the unchanged status of 77 stocks were not specified in the provided information.
In the morning, Dhaka stocks opened on a strong note, with the DSEX soaring 95 points or 1.77% to reach 5,447 within the first hour of trading until 11am[10]. Despite this, no information about the overall market trend or other sectors was provided in the paragraph.
On the last working day of the week, four out of 36 banks listed on the Dhaka Stock Exchange experienced price declines[11]. The increase in DSE turnover from Tk 743 crore in the previous trading session on Wednesday[1] was another noteworthy development, indicating a sustained interest in the DSE.
This news article highlights the significant growth of the Dhaka Stock Exchange on July 31, 2021, primarily driven by the performance of the banking sector stocks. The increased turnover and index gains suggest an upbeat overall market sentiment, with increased investor interest in blue-chip and fundamentally strong stocks.
- The growth of the Dhaka Stock Exchange on July 31, 2021, was significantly influenced by the banking sector, as banking stocks contributed about 30% of the total turnover.
- The surge in Dhaka stocks on July 31, 2021, was primarily driven by the performance of the banking sector, as evidenced by the 9.90% increase in Trust Bank's shares, alongside the soaring prices of Southeast Bank and Sonar Bangla Insurance.
