Dhaka stocks advanced for the sixth trading session on Monday with the key index of the Dhaka bourse hitting three months high as large capitalised companies continued to draw investors’ attention. Heavyweights Lafarge Surma Cement, Square Pharmaceuticals and Grameenphone gained 3.67 per cent, 1.93 per cent and 1.83 per cent respectively on the day. The key index of Dhaka Stock Exchange, DSEX, closed at 4,565.13 points, adding 0.75 per cent or 34.29 points.
The DSEX hit its three-month high on Monday after 4,575.50 points on May 7 this year.
Market operators said the market gained on the day despite fall in the prices of most of the traded stocks as the share prices of large capitalised companies continued to rise.
They said the share prices of some small capitalised companies, mostly insurance companies, fell on the day as investors opted to take some profit after the recent rally.
Investors’ participation on the trading floor increased further with the turnover of the bourse reaching almost Tk 800-crore mark on the day, operators said.
They said the institutional investors increased their participation on the trading floor before the Eid-ul-Fitr vacations after they had stayed on the sideline for around three weeks.
Following the institutional investors, retail investors also became active on the trading floor after Eid-ul-Fitr, said operators.
DS30, the blue-chip index of the DSE, rose by 1.35 per cent, or 22.75 points, to close at 1,701.46 points on the day.
DSES, the Shariah index of the bourse, finished at 1,060.65 points, adding 1.28 per cent or 13.44 points.
Of the 301 shares and mutual funds traded on the day, 135 advanced, 141 declined and 25 remained unchanged.
Turnover of the bourse increased to Tk 790.18 crore on Monday from Tk 763.90 crore in the previous trading session.
‘Strong buy pressure sustained and prolonged the upbeat tone across the broad to the sixth session,’ IDLC Investments said in its daily market commentary.
Meanwhile, market activity amplified further, increasing total turnover by 3.44 per cent, it said.
‘Amid this, pharmaceuticals and fuel and power captured 35.58 per cent of today’s [Monday’s] total trade,’ said IDLC.
Square Pharmaceuticals led the turnover leaders with its shares worth Tk 52.32 crore changing hands on the day.
MJL Bangladesh, Grameenphone, Active Fine Chemicals, Appollo Ispat, Lafarge Surma Cement, BSRM Steels, ACI, Meghna Petroleum and Hwa Well Textiles were among the other turnover leaders.
Apex Tannery gained the most on Monday with a 12.19-per cent increase in its share price after the company had declared 45 per cent cash dividend on the day.
Exim Bank First Mutual Fund lost the most, shedding 10 per cent.
-With New Age input
