Dhaka stocks advanced on Tuesday with the turnover of Dhaka Stock Exchange hit a two-year high amid fresh investment and switching by
investors from one share to another to make profit.
The turnover of the DSE increased to Tk 1,294.61 crore on Tuesday from the previous trading session’s Tk 991.86 crore.
Tuesday’s turnover was the highest since July 31, 2011 when it Tk 1,341.26 crore.
The DSE turnover reached its record high on December 5, 2010 to Tk 3,249.57 crore when the market witnessed a bubble-burst.
On Tuesday, the DSE benchmark general index, DSEX, finished at 4,321.31 points, advancing by 1.36 per cent or 58.07 points. The index posted its highest on the day since its inception in January 28 this year.
The previous highest value of the DSEX was 4,304.97 points on February 14 this year.
Market operators said the government’s Tk 900-crore refinance initiative for the small-scale investors boosted the investors’ confidence in the stock market.
Injection of fresh fund by the institutional investors after the year closing in June and switching by the retail investors from one stock to another might be the reasons for the increased turnover, they said.
The old key index of the bourse, DGEN, advanced by 2.72 per cent, or 124.37 points, to finish at 4,683.75 points on the day as the share price of Grameenphone increased by 8.59 per cent, pushing up the DGEN sharply.
The DGEN on the day hit a nine-month high as the previous highest of the index was 4,706.43 points on October 2 last year.
A rumour about interim dividend declaration in this month by Grameenphone and its sales of 51 per cent shares of GPIT, a subsidiary of Grameenphone, might be the reasons for the sharp rise in the share price of mobile phone operator, they said.
DS30, the blue-chip index of the bourse, finished at 1,634.14 points, advancing by 2.11 per cent or 33.82 points on the day.
Tuesday’s value of the DS30 was highest since its launch on January 28 this year.
The market from May this year started to increase after a prolonged downtrend since the crash in late 2010 as the government ahead of the next general elections declared some positive decisions to boost the market to gain investors’ sympathy.
The government’s decision to refinance Tk 900 crore to implement the refinance scheme for the affected small-scale investors boosted the capital market investors’ confidence.
Of the 289 shares and mutual funds traded on the day, 142 advanced, 131 declined, and 16 remained unchanged.
Grameephone led the turnover chart on the day with its shares worth Tk 69.88 crore changing hands.
Apex Tannery gained the most on Tuesday as its share price increased by 10 per cent, while Familytex declined the most, 9.86 per cent.
-With New Age input
