Dhaka stocks advanced on Monday after a nine-day fall as institutional investors bought shares to avail lower prices of securities after the bear run. The key index of Dhaka Stock Exchange, DSEX, closed at 4,376.89 points, adding 0.74 per cent or 32.53 points. The DSEX had lost 142.71 points in the previous nine trading sessions. Market operators said that the market increased on the day as the institutional investors might have decided to increase their participation on the trading floor to avail low priced stocks.
Besides, there was a perception among the investors that the market might not fall below 4,300-point level, they said.
On the other hand, some state-owned entities might have increased their participation to keep the market afloat and to save it from further fall as a section of retail investors on Sunday staged protest in front of the Bangladesh Securities and Exchange Commission’s office, operators said.
Most of the institutional investors were inactive on the trading floor after half-yearly closing share sell-offs on June 30 as they were expecting to get low-priced stocks.
DS30, the blue-chip index of the bourse, advanced by 0.70 per cent, or 11.21 points, to close at 1,606.48 points on Monday.
The Shariah index of the DSE, DSES, finished at 998.12 points, increasing by 0.79 per cent or 7.85 points.
The turnover of the DSE increased to Tk 186.11 crore on Monday from Tk 149.96 crore in the previous trading session. On Sunday, the turnover had hit its nine-month low.
Of the 291 shares and mutual funds traded on the day, 193 advanced, 56 declined and 42 remained unchanged.
‘Market came back into positivity with investors’ concentration in lucrative scrips,’ IDLC Investments said in its daily market commentary.
Last few sessions’ continuous wane created some stimulus of undervaluation, luring some witty participants to take position and create a natural re-bounce, it said.
‘Besides, MPS and half-yearly and yearly earnings centric expectation remained persistent,’ said IDLC.
Shares of BEXIMCO traded the most on the day with its shares worth Tk 22.65 crore changing hands. The share price of BEXIMCO gained 6.27 per cent to stand at Tk 34.10 on the day.
Grameenphone, Square Pharmaceuticals, Olympic Industries, Appollo Ispat Complex, Beximco Pharma, Lafarge Surma Cement, Eastern Housing, United Airways and Far Chemical Industries were among the other turnover leaders.
Fine Foods gained the most on the day with an 8.55-per cent increase in its share price, while MIDAS Financing lost the most, shedding 7.55 per cent.
-With New Age input
