Dhaka stocks finished the week upbeat amid a bull run on the market, with the DSE general index refreshing record on Thursday led by heavyweight Grameenphone and state-owned enterprises, market operators said.
The benchmark index of Dhaka Stock Exchange advanced by 0.35 per cent to close at record 8,187.33 points on the day. The index crossed the 8,100-point mark for the first time on Wednesday after topping the 8,000-point mark on Tuesday.
Share prices of Grameenphone increased by Tk 15.20 on the day and most of the SoEs’ share prices also advanced on the day.
Most of the banks also gained on the day as investors are waiting for corporate results of the financial institutions, said a DSE stockbroker.
A merchant bank official said the share prices of SoEs continued to gain for the last three days after a sharp fall because of a rumour that the government would fail to offload more of its stakes in eight listed companies within the announced timeline.
On October 24, the finance minister, AMA Muhith, declared that the government would offload more of its stakes in the eight SoEs within 20 days.
‘Investors are buying overpriced shares,’ said Salahuddin Ahmed Khan, who teaches finance at Dhaka University.
A massive gap between demand and supply of shares in the market has resulted in escalating of share prices in recent time, he said.
Out of the total 232 issues traded on the DSE, 125 advanced, 101 declined, and six remained unchanged.
The daily turnover on the bourse was Tk 2,252.71 crore, down by Tk 328.46 crore from the previous day.
Southeast Bank topped the turnover leaders with 18.36 lakh shares valued at Tk 95.29 crore traded on the day.
The rest of the turnover leaders were Shahjalal Islami Bank, AB Bank, Mercantile Bank, Peoples Leasing and Financial Services, Power Grid, Pubali Bank, Beximco, Standard Bank and Jamuna Bank.
Tallu Spinning was the day’s biggest gainer, posting an 18.49-per cent rise in its share prices while Prime Islami Life Insurance was the worst loser.
