Dhaka stocks gained for the fourth trading session on Monday as the turnover recorded the highest in a month thanks to active participation of the investors.
The benchmark general index of Dhaka Stock Exchange, DSEX, finished at 4,279.42 points, adding 0.54 per cent, or 23.00 points. DS30, the blue-chip index of the DSE, gained 1.91 per cent, or 27.93 points, to finish at 1,489.61 points on Monday.
The turnover of the bourse increased to Tk 579.96 crore from the previous session’s Tk 498.95 crore.
Monday’s turnover was the highest since Tk 652.97 crore recorded on October 18.
Of the 287 shares and mutual funds traded on the day, 192 advanced, 73 declined and 22 remained unchanged.
Some retail and institutional investors might have increased their participation on the trading floor anticipating government support to keep the market afloat, said market operators.
On the other hand, stagnant business situation due to the ongoing political crisis might have made the investors increase their investment in the capital market, which probably led to the soaring turnover, they said.
‘Amid no remarkable positive political developments, investors seemingly highlighted confidence and looked beyond the turmoil with optimistic market outlook, pursuing active investment strategy in search of higher risk adjusted return,’ IDLC Investments said in its daily market commentary.
‘Riding on such optimism, DSEX continued its gaining streak to the fourth consecutive day, steadily gaining 23 points over the session to 4,279.43 points,’ it also said.
Generation Next Fashion led the turnover chart as its shares worth Tk 30.80 crore changed hands on the day.
Meghna Petroleum, RN Spinning Mills, Padma Oil, Bengal Windsor Thermoplastics, Summit Purbanchol Power Company, CMC Kamal, BSCCL, BEXIMCO and Grameenphone were the day’s other turnover leaders.
Desh Garments gained the most as the price of its shares increased by 9.89 per cent, while Delta Life Insurance lost the most, 8.72 per cent.
-With New Age input
