Dhaka stocks advanced on Monday, the last trading session of the year, with an increased turnover as the central bank on the day allowed banks another year to adjust their capital market exposure above the allowable limit. The benchmark general index of Dhaka Stock Exchange, DSEX, increased to 4,266.55 points, adding 1.35 per cent or 56.85 points. DS30, the blue-chip index of the bourse, advanced by 1.10 per cent, or 15.95 points, to finish at 1,466.25 points.
‘The Bangladesh Bank’s decision to extend timeline by another year to adjust single borrower exposure limit of banks has played an important role to boost investors’ confidence over the market and will impact positively in the coming days,’ Bangladesh Merchant Bankers Association president Tanjil Chowdhury told New Age.
He said it would give investors a breathing space amid the volatile political situation across the country.
The turnover of the DSE increased to Tk 381.83 crore from that of Tk 264.30 crore in the previous trading session.
Of the 288 shares and mutual funds traded on Monday, 214 advanced, 51 declined and 23 remained unchanged.
‘In perspective of suffocating political affairs, the bourse passed a robust final session of the year,’ IDLC Investments said in its daily market commentary.
In Monday’s session, year-end portfolio rebalancing by investors caused increased activities, contributing to a 44 per cent boost in turnover to Tk 381 crore, it said.
‘With the close of Monday’s session, 2013 was wrapped up with 5.19 per cent year on year gain in broad index DSEX,’ said IDLC.
Positive return in broad index occurred for the first time in last three years, with 19.75 per cent and 36.58 per cent decline in 2012 and 2011 respectively, it added.
Golden Son led the turnover leaders on Monday with its shares worth Tk 23.45 crore changing hands.
Bay Leasing, Appollo Ispat Complex, Lankabangla Finance, Familytex, Delta Life Insurance, Generation Next Fashions, National Life Insurance, UCBL and Argon Denims were among the other turnover leaders.
Fine Foods gained the most on the day with a 9.17-per cent increase in its share price, while Gemini Sea Food lost the most, shedding 4.53 per cent.
A DSE web post on Monday said that the trading of the bourse would remain closed today due to a bank holiday for year closing.
-With New Age input
