The indices and the turnover of the Dhaka Stock Exchange advanced significantly on Wednesday as investors became optimistic following the Bangladesh Bank’s decision to allot funds to the capital market to implement the refinancing scheme for the affected investors.
The benchmark general index of the DSE, DSEX, advanced by 2.58 per cent, or 97.15 points, to close at 3,855.14 points on the day.
The DSEX has now gained 171.16 points in the last three trading sessions after losing 219.41 points in the earlier three.
Market operators said that most of the investors went for buying following the Bangladesh Bank’s decision to provide the capital market with funds to implement the refinancing scheme.
The market’s recent investment trend proves that there is no liquidity crisis in the capital market, they observed.
If the political condition does not deteriorate in the near future the market’s uptrend might continue for some days, they added.
DGEN, the old key index of the bourse, finished at 4,082.48 points, gaining 2.64 per cent, or 105.03 points.
The DGEN gained 187.47 points in the last three trading sessions after losing 201.75 points in the earlier three.
The blue chip index of the bourse, DS30, gained 2.85 per cent, or 39.41 points, on the day to finish at 1,421.38 points.
The DS30 gained 62.80 points in the last three sessions after declining 61.77 points in the earlier three.
‘Optimism kept market positive for third consecutive session, with DGEN once again crossing 4000 psychological level. Investors greeted yesterday’s parliamentary committee meeting positively, which strengthened turnaround expectations further,’ IDLC Investments said in its daily market.
‘The rejoice was observed in session start, as upbeat participation drove DGEN over 4000 within first few minutes of trading,’ it also said.
The turnover of the bourse increased to Tk 433.03 crore, which was 82.71 per cent more than the earlier trading session’s Tk 237 crore.
Among the 287 issues traded on the day, 269 advanced, 11 declined and 7 remained unchanged.
Life insurance sector gained the most as its shares advanced by 3.68 per cent while non-banking financial institutions gained 3.64 per cent.
United Airways led the turnover chart as its shares worth Tk 27.97 crore changed hands.
Grameenphone, Bangladesh Submarine Cable Company, Square Pharmaceuticals, Summit Purbanchol Power Company, Beximco and Titas Gas were the day’s other turnover leaders.
Third ICB Mutual Fund led the gainers’ list as its share prices went up by 9.12 per cent, while Nitol Insurance, Bangas, Kohinoor Chemicals, Second ICB Mutual Fund, Standard Ceramic and The IBN Sina followed the chart.
Eastern Cables lost the most on the day, 5.04 per cent, followed by Islami Insurance Bangladesh, Savar Refractories, LR Global Bangladesh Mutual Fund One and Prime Bank First ICB AMCL Mutual Fund.
-With New Age input