Dhaka stocks advanced on Monday after they declined in the earlier two trading sessions due to investors’ increased participation anticipating support from the state-owned entities.
The benchmark general index of Dhaka Stock Exchange, DSEX, advanced by 0.69 per cent, or 30.18 points, to close at 4,354.88 points on the day.DS30, the blue-chip index of the bourse, finished at 1,535.26 points, adding 0.22 per cent or 3.41 points.
The turnover of the bourse increased to Tk 750.61 crore from Tk 659.04 crore in the previous trading session.
Market operators said that investors are hopeful that the market would not fall further as some government owned entities were active on the trading floor to keep the market afloat at the fag end of the present government’s tenure.
They said that foreign investors also increased their participation on the trading floor expecting further rise in the market.
‘After two consecutive days of correction, bargain hunters snuck in, pushing the market back on the track with a gain of 30.18 points,’ IDLC Investments said in its daily market commentary.
‘However, the index slowed and started shedding points. Once it reached 4,400 points level, as the market sentiment is yet not confident enough to trade over that level,’ it said.
‘Meanwhile, frequent positioning and repositioning throughout the session generated Tk 100 crore worth of additional turnover today, than that of the previous session,’ IDLC said.
Of the 287 shares and mutual funds traded on the day, 169 advanced, 95 declined and 23 remained unchanged.
Generation Next Fashions led the turnover chart as its shares worth Tk 24.45 crore changed hands.
Envoy Textiles, Paramount Textile, Golden Harvest Agro Industries, Grameenphone, RN Spinning Mills, Bengal Windsor Thermoplastics, Summit Purbanchol Power Company, Jamuna Oil and Meghna Petroleum were among other turnover leaders.
Modern Dying and Screen Printing gained the most as its share prices increased by 9.98 per cent, while Gemini Sea Food lost the most, 11.57 per cent.
-With New Age input
