Dhaka stocks rebounded on Sunday as lucrative shares prices and hopes of a dialogue between the prime minister and the leader of the opposition made investors active on the trading floor.
The benchmark general index of Dhaka Stock Exchange, DSEX, finished at 3,909.14 points, gaining 2.89 per cent, or 109.87 points. DS30, the blue-chip index of the bourse, added 1.86 per cent, or 25.38 points, to close at 1,386.42 points.
The DSEX and DS30 had lost 298.50 points and 151.40 points respectively in the last four weeks.
Market operators said that the market on the day increased significantly as investors found shares available at lucrative prices since the market had been declining for the last four weeks.
They are hopeful of a dialogue between the chiefs of the two main political parties after they had talked over the phone regarding the next polls-time government, which made the investors active on the trading floor, operators said.
Support from the Investment Corporation of Bangladesh and some other institutional investors were another reason behind the uptrend, they added.
‘Optimism on end of ongoing political crisis spurred robust movement during today’s session,’ IDLC Investments said in its daily market commentary.
‘Additionally, quarterly earning disclosures fueled in investors’ sentiment positively and created fundamental stimulus of positioning,’ it added.
‘Consequently, buying spree from the very beginning pulled up indices by 109.87 points. In spite of these, activity remained dormant throughout the session and turnover recorded around Tk 250 crore,’ it also said.
Of the 288 shares and mutual funds traded on the Sunday, 247 advanced, 34 declined and 7 remained unchanged.
The turnover of the bourse increased to Tk 249.90 crore from the previous trading session’s Tk 230.31 crore.
Generation Next Fashions led the turnover chart as its shares worth Tk 20.42 crore changed hands.
Envoy Textiles, Argon Denims, UCB, Grameenphone, Malek Spinning, Active Fine Chemicals, Golden Son, Delta Life Insurance and National Bank were the day’s other turnover leaders.
Malek Spinning gained the most on Sunday as the price of its shares increased by 10 per cent, while Beacon Pharmaceuticals lost the most, 12.12 per cent.
-With New Age input
