Dhaka stocks rallied for the fourth trading session on Sunday, the opening day of the week, as investors remained optimistic in anticipation of another bubble at the market amid the formation of government by the Awami League-led alliance for a fresh term, market operators said. They also said the market maintained gain with an increased turnover ahead of the announcement of January-June monetary policy by Bangladesh Bank. The benchmark general index of Dhaka Stock Exchange, DSEX, increased to 4,437.81 points, adding 0.68 per cent or 29.99 points.
DS30, blue-chip index of the bourse, gained 1.36 per cent, or 21.17 points, to close at 1,576.77 points on the day.
The DSEX and the DS30 gained 141.47 points and 70.74 points respectively in the last four trading sessions.
Market operators said investors increased their activities recently following a media report that the central bank might declare a relaxed monetary policy for January-June period later this month.
Investors are also anticipating another bubble as the market had witnessed abnormal surge in share prices in 1996 and 2009-2010, they said.
The turnover at the DSE increased to Tk 619.54 crore on Sunday from Tk 517.58 crore in the previous trading session.
Of the 288 shares and mutual funds traded, 164 advanced, 88 declined and 36 remained unchanged.
‘Breaking its historical crest of 4,440 points during today’s session, DSEX created another span of aspiration among the investors,’ IDLC Investments said in its daily market commentary on Sunday.
Spike in indices lured some witty investors to book profit, which forced broad index to close at 4,438 points, it said.
‘Meanwhile, market participants were rebalancing their portfolio among scrips and sectors, centring on upcoming monetary policy statement and yearly corporate decelerations,’ said IDLC.
Golden Son led the turnover leaders with its shares worth Tk 25.20 crore changing hands.
Olympic Industries, Summit Purbanchol Power Company, Appollo Ispat, Bengal Windsor Thermoplastics, Delta Life Insurance, Generation Next Fashions, Orion Pharma, Padma Oil and Active Fine Chemicals were among the other turnover leaders.
Delta Brac Housing Finance Corporation gained the most with a 9.73-per cent increase in its share price, while Aramit Cement lost the most, shedding 36.06 per cent.
-With New Age input
