Dhaka stocks advanced after three days on Wednesday with a higher turnover thanks to increased participation of the investors on the trading floor.
The key index of the Dhaka Stock Exchange, DSEX, finished at 4,190.09 points, advancing 1.04 per cent or 43.53 points on the day.The old key index of the bourse, DGEN, gained 1.25 per cent, or 55.35 points, to finish at 4,465.47 points.
The DSEX and DGEN had lost 112.66 points and 66.96 points respectively in the last three trading sessions.
The DSEX and DGEN, however, have gained 791.03 and 822.23 points respectively since May 1.
Market operators said investors’ participation increased on the day as they probably thought that the market would not decline further.
Increased participation of the foreign investors on the trading floor was another reason behind the rise in indices on the day, said the operators.
Fresh fund injection by investors ahead of the June closing with the listed companies set to disclose their financial status next month also made them hopeful about the market, they added.
Along with the investors’ profit-taking move, sell pressure from the mutual funds was another reason behind the last three trading sessions’ fall in share prices, they said.
The blue chip index of the bourse, DS30, advanced by 1.34 per cent, or 20.83 points, to finish at 1,567.57 points on the day.
The turnover of the bourse increased to Tk 786.81 crore from the earlier session’s Tk 511.86 crore.
Unlike the recent market trend, fuel and power sector occupied the major portion of the day’s turnover, 24.32 per cent, while engineering sector followed the chart.
‘Tri-session long volatility reversed today with a strong comeback, amid investors’ fluent participation. Resultantly, total turnover registered to Tk 786.81 crore, an increase of 53.72 per cent from previous session,’ IDLC Investment said in its daily market commentary.
Of the 288 shares and mutual funds traded on the day, 179 advanced, 82 declines and 27 remained unchanged.
Meghna Petroleum led the turnover chart as its shares worth Tk 51.58 crore changed hands. While Bangladesh Submarine Cable Company, Aftab Auto, Jamuna Oil, Square Pharma, Padma Oil, Summit Purbanchol Power Company, Grameenphone, Golden Harvest Agro Industries and Olympic Industries followed the chart.
JMI Syringes and Medical Devices gained the most as its shares went up by 9.97 per cent, while Samata Leather Complex lost the most, 10 per cent.
-With New Age input
