Dhaka stocks surged for the second trading session on Tuesday with investors focusing on large capitalised companies’ scrips amid institutional investors’ increased participation at the trading floor ahead of the year closing of the entities. The key index of Dhaka Stock Exchange, DSEX, increased to 4,932.89 points, adding 1.31 per cent or 64.24 points. Large capitalised companies played major role behind the day’s bouncy vibe at the market, market operators said.
Share prices of large capitalised companies rose by 2.20 per cent on Tuesday.
They said that as the institutional investors increased their participation in the trading ahead of the entities’ year closing to show healthy financial performance, the share prices and turnover rose.
The market was on the decline for last one-and-half month amid regulatory actions and profit taking share sell-offs.
DS30, the blue-chip index of DSE, rose by 2.12 per cent, or 38.16 points, to finish at 1,837.44 points on the day.
The Shariah index of DSE, DSES, increased by 1.95 per cent, or 22.09 points, to close at 1,154.01 points.
Of the 302 shares and mutual funds traded on the day, 220 advanced, 51 declined and 31 remained unchanged.
Turnover of the bourse increased to Tk 373.57 crore on Tuesday compared with that of Tk 341.53 crore in the previous trading session.
‘Stimulated with the consistent buying pressure in large capitalised scrips, especially Grameenphone, Lafarge Surma Cement and Square Pharmaceuticals, the market moved ahead further,’ IDLC Investments said in its daily market commentary.
On the day, some fresh fund injection was observed, putting further improvement in turnover, settling at Tk 373 crore, 9.40 per cent up than that of the last session,’ it said.
‘Today, benchmark index observed another green session, gaining 64.25 points with increased turnover,’ LankaBangla Securities said in its daily market analysis.
After a consolidation phase, the market gained some positive ambiance banking on large cap stocks,’ it said.
‘Fuel and power and pharmaceutical sectors contributed 33 per cent of market turnover today,’ LankaBangla said.
Grameenphone led the turnover chart on the day as its shares worth Tk 21.33 crore changed hands.
AB Bank, Square Pharmaceuticals, Keya Cosmetics, Summit Alliance Port, Jamuna Oil, Western Marine Shipyard, Beximco Pharma, Lafarge Surma Cement and MJL Bangladesh were among other turnover leaders.
Sonali Aansh gained the most on the day as its share prices rose by 9.24 per cent, while Northern Jute Manufacturing was the worst loser of the day as its share prices fell by 8.49 per cent.
-With New Age input
