Dhaka stocks advanced for the second trading session on Sunday with an increased turnover as the news that the government is in the final stage to release the first instalment of the refinancing scheme worth Tk 300 crore made the investors cheerful.
‘Opening a separate bank account for the fund is under process. Investment Corporation of Bangladesh worked to this end on Sunday. Hopefully they would be able to receive the fund by tomorrow (Monday),’ Bangladesh Securities and Exchange Commission executive director Saifur Rahman said on the day.
The benchmark general index of the Dhaka Stock Exchange, DSEX, finished at 4,163.18 points, adding 37.91 points, or 0.91 per cent.
The blue chip index of the DSE, DS30, gained 0.45 per cent, or 7.14 points, to close at 1,568.23 points.
The turnover of the bourse increased to Tk 820.30 crore from the previous trading session’s Tk 736.07 crore.
Sunday’s turnover was the highest after Tk 852 crore recorded on July 18.
Market operators said the investors were active on the trading floor from the beginning of the session hoping that the government fund of Tk 300 crore to implement the refinancing scheme for the small investors would be released on Sunday.
The fact that the opposition parties had recently said that they would not go for tough agitation programmes demanding a non-partisan caretaker government also encouraged them to go on a buying spree, said the operators.
If the political situation remains stable in the coming days it will obviously have a positive impact on the capital market, they added.
‘Hype continued as week started, but could not keep its phase amid profit taking. As session progressed, investors opted for realizing short-term gains, since index loaded a large spike of 329.65 points in last ten sessions. This stimulus improvement in hype-driven positioning and profit booking helped turnover to boost over Tk 800 crore level after twenty sessions,’ IDLC Investments said in its daily market commentary.
Among the 288 shares and mutual funds traded on the day, 171 advanced, 92 declined and 25 remained unchanged.
Grameenphone led the turnover chart as its shares worth Tk 48.58 crore changed hands.
-With New Age input
