Turnover crosses Tk 800cr mark again
Dhaka stocks rebounded on Tuesday with the turnover crossing Tk 800-crore mark again in just one-day gap due to investors’ optimistic share purchasing expecting better returns.
The key index of the Dhaka Stock Exchange, DSEX, rose by 1.05 per cent, or 49.48 points, to close at 4,759.39 points on Tuesday which is the highest after 4,761.18 points on February 20 this year.
The market, overcoming its earlier trading session’s negative vibe, rebounded on Tuesday due to investors’ increased concentration in trading expecting that nothing is going to be negative for the market immediately, market operators said.
As the opposition Bangladesh Nationalist Party-led alliance did not take any tough political programme after Eid-ul-Fitr as per its earlier declaration and there is no sign of movement in coming weeks investors have become optimistic about a stable capital market, they said.
The operators also said fresh fund injection from different section of investors was another reason which helped the market sustaining a turnover above Tk 800 crore.
Diversion of fund from the banking sector to the capital market due to the decline in bank deposit rate was another reason of increased fund injection, they said.
DS30, the blue-chip index of the bourse, increased to its all-time high at 1,858.40 points after its launch with 1,460.30 points on January 27 last year.
The blue-chip index rose by 2.16 per cent or 39.42 points on Tuesday.
DSES, the shariah index of DSE, also hit an all-time high on Tuesday after its launch with 941.27 points on January 21 this year.
DSES increased at 1,126.53 points on the day, adding 1.42 per cent or 15.81 points.
Turnover of the bourse increased to Tk 836.22 crore on Tuesday compared with that of Tk 668.90 crore in the previous trading session.
The turnover of the bourse crossed Tk 800-crore mark after seven-month on Sunday.
Of the 301 shares and mutual funds traded on Tuesday, 114 advanced, 137 declined and 50 remained unchanged.
‘Bidding on last day’s slight correction, market regained the momentum with investors’ strong participation in few stocks,’ IDLC Investments said in its daily market commentary on Tuesday.
‘Consequently, DSEX performed robust, gaining 49.5 points to close at seven months’ peak at 4,759.4,’ it said.
‘Alongside, blue chip index DS30 spiked to another crest of 1,858.4 points, to return 26.70 per cent since January 2014,’ it said.
‘As prime index stayed above 4,700.0-point level for the third consecutive session with robust turnover, investors were gaining confidence on fresh funds injection,’ said IDLC.
Shares of Beximco Pharma traded the most with its shares worth Tk 56.04 crore changing hand.
BSRM Steels, MJL Bangladesh, BEXIMCO, Lafarge Surma Cement, Delta Life Insurance, ACI Limited, ACI Formulation, Grameenphone and IDLC Finance were among other turnover leaders of the day.
ACI Formulation gained the most on the day as its share prices rose by 10 per cent, while Bangladesh Building Systems was the worst loser of the day with 6.27 per cent declined in share prices.
-With New Age input
