Dhaka stocks advanced on Wednesday after a four-day fall as investors became optimistic after Bangladesh Bank governor Atiur Rahman in the previous day asked banks not to reduce capital market exposure all of a sudden, but gradually. The market started on a positive note on Wednesday and sustained the vibe throughout the session as investors became comfortable after the BB governor’s direction, market operators said.
The benchmark general index of Dhaka Stock Exchange, DSEX, closed at 4,749.23 points, adding 1.66 per cent or 77.66 points.
DS30, blue-chip index of the DSE, advanced by 1.89 per cent, or 31.30 points, to finish at 1,687.01 points.
Market operators said investors were panicky in the last few weeks as the central bank had issued show-cause notices to the banks which increased their capital market exposure in 2013 and the BB asked the entities to reduce their exposures.
Investors, who sold their shares in recent weeks and were waiting for scope of reinvestment, increased their participation on the trading floor on Wednesday, they said.
The Shariah index of the bourse, DSES, increased to 993.92 points, adding 2.09 per cent or 20.39 points.
Turnover of the bourse increased to Tk 382.66 crore which was Tk 348.83 crore in the previous trading session.
All the major sectors turned positive, as cement, food and allied, pharmaceuticals and power sector gained 3.19 per cent, 2.68 per cent, 2.30 per cent and 1.84 per cent respectively.
Of the 291 shares and mutual funds traded, 243 advanced, 28 declined and 20 remained unchanged.
‘Market broke its bearish spell today [Wednesday], as optimism resurfaced,’ IDLC Investments said in its daily market commentary.
It said, ‘Since, index lost 174 points from last week, investors observed lucrative price advantage. This assisted in creating a natural re-bounce, pushing up DSEX by 78 points,’ it said.
Lucrative price to NAV ratio in mutual funds knocked investors’ attention during Wednesday session, IDLC said.
Square Pharmaceuticals led the turnover leaders with its shares worth Tk 20.30 crore changing hands.
-With New Age input
