Dhaka stocks gained again on Tuesday with a sharp rise of share prices of two largest companies—GrameenPhone and MJLBD—and all non-bank financial institutions.
The benchmark general index of Dhaka Stock Exchange, or DGEN, on the day gained 100.99 points, or 1.55 per cent, to close at 6,587.58 points.
Turnover on the bourse increased to Tk 1,387.54 crore compared to that of Tk 1,157.06 crore in the previous day.
Market operators said all 21 companies of non-bank financial sector gained big on the day as the government decided to double the capital requirement for financial institutions to Tk 100 crore from Tk 50 crore.
They said that apart one, all the bank issues also rose marginally on the day which also contributed to the gains on Tuesday.
‘As GP and MJLBD hold a significant number of shares of the total market capitalisation, sharp rise of their share prices was one of the key factors for Tuesday’s gain,’ said a stockbroker.
‘Heavy gains made by the non-banking financial institutions were another major reason for today’s market rise,’ he added.
The GP on Tuesday declared interim cash dividend of 140 per cent or Tk. 14.00 per share for the year ending on 31st December 2011. GP on the day posted a rise of Tk 18.1 or 10.22 per cent to close at Tk 195.0.
MJLBD also gained by 7.27 per cent or Tk 13.1 on the day to close at Tk 190.3.
Trading on DSE started in a positive mood and the DGEN index made a steady rise throughout the session on Tuesday.
On Sunday, the market had fallen by 91 points following a remark made by the finance minister AMA Muhith expressing his dissatisfaction over the recent bull run in the capital market. Before Sunday, the general index of DSE gained 454 points in eight consecutive sessions.
Of 261 issues traded on Tuesday, 229 advanced, 28 declined, and four remained unchanged.
GP topped the list of top-10 turnover leaders on Tuesday with its share worth Tk 75.49 changing hands. The rest in the list were Beximco, MJLBD, Shajalal Islami Bank, United Airways, MI Cements, One Bank, Goldenson, Titas Gas and United Commercial Bank.
-With New Age input
