Stocks surge after budget as investor optimism lifts DSE indices

The stock market extended its rally today (14 June), with all major indices closing sharply higher as investors responded positively to the proposed national budget and expectations of reforms in the capital market.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), gained 104.95 points, or 1.90%, to close at 5,625 points, while the Shariah-based DSES advanced 14.35 points, or 1.29%, to 1,129 points.

The blue-chip DS30 index also rose 46.90 points, or 2.26%, to 2,120 points.

Market participation remained strong, with total turnover reaching Tk1,358.47 crore, the data showed.

Investor sentiment was overwhelmingly positive, as 246 issues advanced against 96 decliners, while 50 remained unchanged at DSE.

Market insiders said the budget's emphasis on strengthening the capital market, improving governance and transparency, and expanding alternative financing instruments boosted investor confidence.

DSE data showed that financial stocks dominated the gainers' chart on the DSE on Saturday, riding the market's strong post-budget rally.

Provati Insurance emerged as the top gainer, rising 9.98% to Tk55.10 for each share, followed by Islami Bank Bangladesh, which advanced 9.97% to Tk32 each.

Among other major gainers, LankaBangla Finance gained 9.80% to Tk16.80 each, IPDC Finance rose 9.71% to Tk26 each, and Uttara Finance climbed 9.70% to Tk14.70 each.

On the other hand, Beximco Ltd continued to decline amid selling pressure after the lifting of the floor price, with its shares continuing to fall.

On Sunday, Beximco's shares fell 9.96% to Tk72.3 each, followed by Meghna Condensed Milk, which declined 9.92% to Tk35.4 each; Shyampur Sugar Mills, which dropped 8.74% to Tk218 each; Fareast Finance, which fell 7.69% to Tk1.2 each; and Peoples Leasing Financial Services, which also fell 7.69% to Tk1.2 each, DSE data showed.