Dhaka stocks advanced on Monday as the state-owned entities went to support the market in late trading after a four-day fall amid political violence across the country.
The benchmark general index of Dhaka Stock Exchange, DSEX, closed at 4,197.92 points, adding 1.22 per cent or 50.71 points. DS30, the blue-chip index of the DSE, advanced by 0.59 per cent, or 8.76 points, to finish at 1,479.59 points.
In the previous four trading sessions the DSEX and the DS30 had lost 198.68 points and 64.44 points respectively.
Market operators said despite the blockade called by the opposition alliance the market rebounded on the day as some state-owned entities were active on the market to
keep the market afloat.
A rumour that Bangladesh Bank and Bangladesh Securities and Exchange Commission might relax some provisioning-related rules for banks, merchant banks and brokerage
houses also encouraged a section of investors, they said.
They said that media reports that overseas investors increased their investment at the market in November prompted some investors to buy shares.
The political situation, however, has made the investors shaky, they said.
The turnover of the DSE declined to Tk 347.85 crore on Monday from Tk 348.68 crore in the previous trading session.
‘Amid the lackluster mood of investors, the market saw a bounce, driven by positive performance of most of the large cap scrips,’ IDLC Investment said in its daily
market commentary.
It said, ‘News of increased foreign investment could not encourage investors much as the confirmation of blockade prolonging further kept investors conservative.’
Of the 284 shares and mutual funds changed hands, 207 advanced, 53 declined and 24 remained unchanged.
Delta Life Insurance led the top turnover leaders’ list with its shares worth Tk 42.99 crore changing hands.
Bangladesh Building Systems, Bengal Windsor Thermoplastics, Generation Next Fashions, RN Spinning Mills, Paramount Textiles, Central Pharmaceuticals, UCBL, Jamuna Oil
and Grameenphone were also among the other top turnover leaders.
Bangladesh Building System gained the most on the day with a 9.96-per cent rise in its share price, while Stylecraft lost the most, shedding 6.24 per cent.
-With New Age input
