Dhaka stocks gained on Thursday, the last trading session of the week, with an increased turnover riding on expectations that the government would soon release the first phase of the refinancing scheme for the affected small investors.
The finance ministry on Monday approved the guideline to disburse loans worth Tk 900 crore among the affected small investors although the interest rate was increased to 9 per cent.
To this end, the Bangladesh Bank, the Bangladesh Securities and Exchange Commission and the Investment Corporation of Bangladesh on Wednesday drafted a Memorandum of Understanding, which was signed among the three government entities on Thursday.
The benchmark general index of the Dhaka Stock Exchange, DSEX, advanced to 4,125.27 points on Thursday, adding 56.54 points, or 1.38 per cent.
The DSEX on the day hit the highest mark since 4,223.61 points recorded on July 18. DS30, the blue-chip index of the DSE, gained 1.55 per cent, or 23.85 points, to close at 1,561.09 points.
The turnover of the DSE increased to Tk 736.07 crore from the earlier trading session’s Tk 565.15 crore.
Thursday’s turnover was also the highest since Tk 852.01 crore recorded on July 18.
Market operators said that the signing of the MoU between the three government entities made investors optimistic about the release of the refinance scheme’s first phase worth Tk 300 crore.
If the government releases the fund within the next two or three days it will obviously have a positive impact on the capital market, they added.
As the opposition party has recently said that they would not go for tough agitation programmes demanding a non-partisan caretaker government, the investors are relaxed about the political future at this moment, said the operators.
Among the 291 shares and mutual funds traded on the day, 216 advanced, 53 declined and 22 remained unchanged while as many as 85 of them posted more than 4 per cent gain.
‘Closing session of the week returned with positive vibe after a slight breakthrough in last two sessions,’ IDLC Investment said in its daily market commentary.
Bangladesh Submarine Cable Company led the day’s turnover chart as its shares worth Tk 34.05 crore changed hands.
Grameenphone, Padma Oil, Square Pharmaceuticals, Meghna Petroleum, Active Fine Chemicals, Confidence Cement, RN Spinning Mills, Golden Harvest Agro Industries and Titas Gas were the day’s other turnover leaders.
Grameen Mutual Fund One gained the most on the day as the price of its shares increased by 9.95 per cent while Eights ICB Mutual Fund lost the most, 9.97 per cent.
-With New Age input
