Dhaka stocks advanced on Monday with an increased turnover as the investors went for buying after the recent fall. DSEX, the benchmark general index of the Dhaka Stock Exchange, increased to 3,975.12 points, gaining 1.41 per cent, or 55.40 points.
The turnover of the bourse increased to Tk 346.37 crore from the previous trading session’s Tk 220.24 crore.
DGEN, the old key index of the bourse, added 1.61 per cent, or 68.71 points, to finish at 4,329.38 points on the day.
The blue-chip index of the bourse, DS30, increased to 1,490.62 points, gaining 2.91 per cent, or 42.16 points.
Market operators said investors bought shares to avail themselves of the lower prices of the securities after the recent fall.
The submission of demutualisation schemes by the stock exchanges on the day might be another reason behind the market’s uptrend, they added.
Among the 284 shares and mutual funds traded on the day, 211 advanced, 54 declined and 19 remained unchanged.
‘Market came back into positively with investors’ focus in lucrative scrips. Last few sessions’ continuous wane created some stimulus of undervaluation, which lured some of the witty participants to take position and create a natural re-bounce again,’ IDLC Investments said in its daily market commentary.
‘Investors were seemed to be more cautious in their trading activities ahead of Eid-Ul-Fitr,’ it also said.
There had been an uptrend in the market since May after the government had decided to implement the Tk 900 crore refinancing scheme for the small scale investors affected by the capital market crash in 2010.
Food and allied sector dominated the trading floor on the day as the sector gained 5.97 per cent, while tannery gained 5.41 per cent and engineering 3.86 per cent.
Bangladesh Submarine Cable Company led the turnover chart on the day as its shares worth Tk 41.06 crore changed hands.
Olympic Industries, Meghna Petroleum, Padma Oil, Tallu Spinning, Titas Gas, Active Fine Chemicals and United Airways were the other turnover leaders.
National Tubes led the gainers’ list on the day as the price of its shares increased by 9.89 per cent, while Shyampur Sugar Mills lost the most, 7.89 per cent.
-With New Age input
