Dhaka stocks advanced on Tuesday amid investors’ optimistic purchasing as share prices of many companies came down notably in recent downtrend. The key index of Dhaka Stock Exchange, DSEX, increased to 4,934.78 points, adding 0.40 per cent or 20.07 points.
As prices of stocks became lucrative following fall in key index of the bourse by around 400 points investors were lured to purchase shares, market operators said.
Although, there was some short of sell pressure for some large-scale investors in the mid-trading session, the market remained upward due to adequate number of shares purchase orders on the board to absorb sell orders, they said.
Big-scale investors have increased share selling for last couple of trading sessions in a bid to pull down share prices and avail them cheaper later, operators said.
DS30, the blue-chip index of the bourse, rose by 0.84 per cent, or 15.31 points, to close at 1,822.76 points on the day.
The Shariah index of DSE, DSES, closed at 1,156.67 points, increasing 0.75 per cent or 8.67 points.
Of the 303 shares and mutual funds traded on the day, 152 advanced, 111 declined and 40 remained unchanged.
Turnover of the bourse declined to Tk 668.77 crore on the day compared with that of Tk 709.77 crore in the previous trading session.
‘Coupled with volatile movements throughout the session, downturn in the premier bourse slowed a bit, closing the market at green territory,’ IDLC Investments said in its daily market commentary.
‘Since most of the scrips in mini and small cap were offering lucrative price advantages after recent correction, investors started centralising their position on those scrips,’ it said.
‘Sector-wise Jute, Paper & Printing and Cement sectors gained the most, increasing 5.0 per cent, 4.20 per cent, and 3.50 per cent respectively in market capitalisation,’ it said.
Western Marine Shipyard led the turnover chart as its shares worth Tk 44.61 crore changed hands.
Barakatullah Electro Dynamics, Peninsula Chittagong, Keya Cosmetics, Saif Powertec, DESCO, MJL Bangladesh, Square Pharmaceuticals, Orion Infusions and Shahjibazar Power Company were among other gainers.
Sonali Aansh gained the most on the day as its share prices rose by 9.95 per cent, while Tallu Spinning was the worst loser of the day as its share prices fell by 33.46 per cent.
-With New Age input
