Dhaka stocks advanced for the straight sixth trading session on Monday with a higher turnover as investors remained positive after the opposition party on the day announced that it would go for peaceful protest demanding a polls-time non-party neutral government.
The benchmark general index of Dhaka Stock Exchange, DSEX, advanced by 1.24 per cent, or 50.14 points, to finish at 4,083.91 points.
DS30, the blue-chip index of the DSE, closed at 1,553.62 points, advancing by 0.99 per cent or 15.32 points.
The DSEX and DS30 gained 250.38 points and 112.71 points respectively in the last six trading sessions.
The turnover of the bourse increased to Tk 475.68 crore from the previous trading session’s Tk 449.43 crore.
The market on the day started negative as investors went for sell-offs fearing unstable political situation after the prime minister, Sheikh Hasina, on Sunday rejected the opposition’s demand for a non-party caretaker government, market operators said.
But, the market started to rise after the main opposition party Bangladesh Nationalist Party at a press briefing on Monday said it would not go for tough action against the government now, they said.
If the political situation remains stable in the coming days, there is a possibility that the market will remain upbeat, the operators said.
‘Despite a shaky beginning, upbeat tone hit right from the mid-session, recording a hype of 50.14 points. Apparent improvement in turnover of last few sessions assisted in improving investors’ confidence as they were relying on temporary respite in political frontier,’ IDLC Investments said in its daily market commentary.
‘Trading of heavy weighted scrips put the turnover a 16-session high of Tk 475.68 crore,’ it also said.
Of the 289 shares and mutual funds traded on the day, 186 advanced, 79 declined, and 24 remained unchanged.
Padma Oil led the turnover leaders with its shares worth Tk 28.68 crore changing hands.
Bangladesh Submarine Cable Company, Meghna Petroleum, Olympic Industries, Grameenphone, Active Fine Chemicals, Square Pharmaceuticals, United Airways, Titas Gas and Jamuna Oil were also among the turnover leaders.
-With New Age input
