Dhaka stocks advanced for the third trading session on Wednesday with an increased turnover as retail investors, encouraged by a bigger participation of institutional investors on the trading floor, went for buying shares. Since Monday institutional investors increased their participation focusing on large capitalised companies scrips ahead of the year closing of the entities.The key index of Dhaka Stock Exchange, DSEX, closed at 4,992 points, adding 1.19 per cent, or 59.10 points on Wednesday.
Stockbrokers said investors, who were on the sidelines due to the downward in the share prices in October and November, made fresh investment move on Wednesday after the surge in the previous two days.
Besides, institutional investors, who increased their participation from the first day of December, also remained active, they said.
Investors mostly focused on the companies under the power and banking sector on Wednesday and the sectors gained 2.10 per cent and 1.70 per cent respectively, stockbrokers said.
If the institutional investors refrain from profit-booking, the upward vibe at the market will prolong further, they said.
DS30, the blue-chip index of the DSE, rose by 0.89 per cent, or 16.39 points, to finish at 1,853.83 points.
The Shariah index of the bourse, DSES, stood at 1,166.37 points, increasing by 1.07 per cent or 12.35 points.
Of the 304 shares and mutual funds traded on Wednesday, 235 advanced, 49 declined and 20 remained unchanged.
The gaining tone extended further and resumed an upbeat reversal, IDLC Investment said in its daily market commentary.
‘Since, bullishness prevailed in the previous two consecutive sessions, investors on Wednesday found confidence of coming back to the market again,’ said IDLC.
‘Within this, fuel & power, pharmaceuticals and banks captured major portion, totalling 49.2 per cent of turnover,’ said IDLC.
‘Rising from the oversold state, the market has upheld it bullish trend with almost 250 points up in last three trading sessions,’ LankaBangla Securities said in its daily market analysis.
Turnover at the bourse increased by 38.30 per cent to Tk 516.53 crore on Wednesday compared with that of Tk 373.56 crore in the previous trading session.
Keya Cosmetics led the turnover leaders on the day with its shares worth Tk 22.74 crore changing hands.
Titas Gas, Summit Alliance Port, Square Pharmaceuticals, AB Bank, Beximco Pharma, Western Marine Shipyard, Grameenphone, Jamuna Oil and Meghna Petroleum were among the other turnover leaders.
Pharma Aids gained the most with an 8.73-per cent increase in its share price, while Northern Jute Manufacturing was the worst loser on the day, shedding 8.74 per cent.
-With New Age input
