Dhaka stocks gained heavily on Sunday as investors became hopeful after the elections of the new leaders of the bourse and the peaceful end to four city corporation polls in the previous day.
DSEX, the benchmark general index of Dhaka Stock Exchange, gained 2.44 per cent, or 99.87 points, to close at 4,179.67 points.The old index of the bourse, DGEN, gained 2 per cent, or 86.22 points, to close at 4,385.88 points.
DSE blue-chip index, DS30, gained 2.03 per cent, or 38.69 points, to close at 1,536.28 points.
Turnover of the bourse hit eight-month high on Sunday at Tk 814.97 crore from the previous session’s Tk 593.49 crore.
Earlier on October 3, 2012 the DSE turnover was Tk 1,044.83 crore.
Market operators and investors said the peaceful elections to four city corporations and the elections of new president and vice-presidents of the DSE made the investors hopeful.
‘The city corporation elections ended peacefully and the ruling party took a bashing which made many investors cheerful as the Awami League-led government was responsible for the market crash in 2010-11,’ an investor told New Age in front of the DSE building at Motijheel.
‘Usually the market remains upbeat during the DSE elections and afterwards for a few days. I hope the market will remain positive for some more days,’ he said.
Ahsanul Islam was elected president of the DSE on Sunday for the next five months until the bourse is demutualised.
A senior official of a brokerage house said the market also attracted the institutional investors following the budgetary proposals.
‘The Bangladesh Bank’s refinance scheme boosted the investors’ sentiment first,’ he said on Sunday.
Of the 290 issues traded on Sunday, 246 advanced, 34 declined, and 10 remained unchanged.
All the sectors ended in the green except food and allied that lost 0.39 per cent.
Among the major sectors non-bank financial institutions gained most, 3.22 per cent, followed by power that gained 2.40 per cent.
Pharmaceuticals gained 2.38 per cent, telecommunication 2.31 per cent and banks gained 1.08 per cent on the day.
Orion Pharma topped the turnover chart with its shares worth Tk 36.17 crore changing hands. The other turnover leaders were United Airways, BSCCL, SPPCL, Unique Hotel, RN Spinning, Olympic, Meghna Petroleum, Envoy Textiles and Active Fine Chemicals.
-With New Age input
