DSEX sets new record ahead of Eid holidays

Dhaka stocks rallied on Monday with the benchmark DSEX index surpassing its all-time high recorded in the previous session ahead of extended holidays announced for Eid-ul-Azha. The stock market will reopen on July 25.

The DSEX closed at 6,405, adding almost 40 points or 0.62 percent as against previous day’s closing of 6,365 points, which was its all-time-high since its introduction in 2013.

Other indices, the Shariah-based DSES index was up 8 points or 0.60 percent to 1,387, and the blue-chip DS30 index moved up 16 points or 0.70 percent to 2,322.

The market opened on a negative note and after sustaining a short dip of over 30 points, bounced back, closing the session on a strong note.

General insurance, travel and leisure, life insurance, engineering and bank stocks kept the interest alive and despite a long vacation investors took a long bet.

Trading volumes declined significantly, indicating that the market entered the holiday mood, according to stockbrokers. Turnover declined by 29.48 percent to Tk 1,265 crore.

Pharmaceutical sector dominated the turnover accounting for more than 11 percent of the total turnover, followed by engineering 10.95 percent and general insurance over 10 percent.

The top gainers included Global Insurance, Beacon Pharmaceuticals, and Central Insurance.