Dhaka stocks advanced for the second trading session on Wednesday with an increased turnover thanks to optimistic participation of the investors who were hopeful of a consensus between the ruling and the opposition parties over forming of the polls-time government.
The turnover of the Dhaka Stock Exchange increased to Tk 296.43 crore from the previous session’s Tk 188.82 crore.
DSEX, the benchmark general index of the bourse, increased to 3,883.86 points, gaining 1.81 per cent, or 69.19 points.
The blue-chip index of the bourse, DS30, added 1.30 per cent, or 18 points, to close at 1,393.25 points.
The DSEX and DS30 have now gained 119.98 points and 34.45 points in the last two trading sessions respectively after losing 79.67 points and 29.14 points in the previous two.
Of the 288 shares and mutual funds traded on Wednesday, 153 advanced, 108 declined and 27 remained unchanged.
Market operators said that investors were optimistic as they were hopeful of an improved political situation after the BNP on Tuesday had sent a written proposal to the ruling party.
Foreign diplomats also welcomed the move, which was another reason behind the market’s buoyant trend, they said.
‘Expected imminent discussion between two major political parties knocked investors’ sentiment very positively during today’s [Wednesday] session. News in different national dailies centering political issues assisted creation of optimism amid investment community,’ IDLC Investments said in its daily market commentary.
‘As a result, the bourse ended green with robust gain of 69.19 points. Alongside, rising investors’ confidence pushed up turnover by 57 per cent from previous session and registered at slightly below Tk 300 crore mark,’ it also said.
Envoy Textiles led the turnover chart as its shares worth Tk 28.96 crore changed hands on the day.
Argon Denims, Square Pharmaceuticals, UCB,
Generation Next Fashions, Padma Oil, Titas Gas, Grameenphone, Bangladesh Building Systems and
Delta Life Insurance were the day’s other turnover leaders.
Rahim Textiles gained the most on the day as the price of its shares increased by 13.11 per cent, while Zeal Bangla Sugar Mills lost the most, 6.66 per cent.
-With New Age input
