Dhaka stocks advanced on Tuesday with an increase in turnover following media reports that the Bangladesh Bank approved refinance scheme for rescheduling
loans of the small-scale investors affected by the market crash.
The benchmark general index of the Dhaka Stock Exchange, DSEX, advanced by 0.26 per cent, or 9.76 points, to finish at 3,757.99 points.
The DSEX increased by 74.01 points in the last two trading sessions after it had declined by 219.41 points in the previous three.
The old key index of the bourse, DGEN, finished at 3,977.44 points on Tuesday, gaining 0.47 per cent or 18.63 per cent.
The DGEN increased by 82.43 points in the last two trading sessions after it had declined by 201.75 points in the previous three.
Market operators said the investors’ participation increased on the day as the BB on Monday decided to release fund for rescheduling loans of the affected small-scale investors.
Earlier, the finance ministry asked the BB to provide Tk 1,266 crore in refinance for rescheduling loans of the affected small-scale investors to implement the stock market compensation scheme.
The market, however, fluctuated in late trading due to pre-strike violence, the market operators said.
DS30, the blue-chip index of the DSE, gained 0.24 per cent, or 3.38 points, to close at 1,381.97 points.
The DS30 advanced by 23.39 points in the last two trading sessions after it had declined by 61.77 points in the previous three.
The turnover of the bourse advanced to Tk 237 crore on Tuesday from the previous trading session’s Tk 187.42 crore.
‘Bangladesh Bank’s approval on refinancing scheme for institutional participants and expectations over upcoming meeting of capital market stakeholders with parliamentary committee formed hype as session started,’ IDLC Investments said in its daily market commentary.
‘However, as sentiment moved back and forth amid budgetary & turnaround expectations, upward momentum lost its pace over insubstantial confidence,’ it also said.
Of the 285 shares and mutual funds traded on the day, 165 advanced, 90 declined, and 30 remained unchanged.
Orion Pharma led the turnover chart with its shares worth Tk 13.97 crore changing hands, while United Airways, Summit Purbanchol Power Company, Grameen One: Scheme Two, CVO Petrochemicals, Aamra Technologies, Bangladesh Submarine Cable Company were also on the chart.
Rahim Textile gained the most as its share price increased by 9.98 per cent.
Savar Refractories was the worst loser on the day as its share price declined by 10 per cent.
-With New Age input
