Dhaka stocks inched up with a higher turnover amid volatile trading on Tuesday as a section of the investors made fresh investments while another opted for profit-taking.
The benchmark general index of the Dhaka Stock Exchange, DSEX, gained 0.45 per cent, or 18.76 points, to finish at 4,184.46 points on the day.The DSEX started the day on a positive note, gaining about 30 points within the first 25 minutes of trading, but in the next 20 minutes it lost more than 35 points as the investors went for profit-taking.
The market fluctuated for the remainder of the trading session courtesy of the investors’ dual perspective.
Market operators said the investors who had bought shares 10-12 trading sessions ago were active on the trading floor on Tuesday to realise profit, which was the reason behind the sell pressure.
On the other hand, a section of investors bought shares on the day as a JP Morgan Chase Bank representative visited the DSE on the day to see the scope of investment in the bourse and that kept the market afloat.
The DSEX on Monday had declined by 12.26 points as the investors went for sell-offs following the recent price hike in the market.
The old key index of the bourse, DGEN, gained 0.29 per cent, or 12.87 points, on the day to finish at 4,386.49 points.
DS30, the blue chip index of the bourse, finished at 1,535.96 points on the day, gaining 0.63 per cent, or 9.69 points.
Market operators also said investors who had been inactive on the trading floor following the prolonged downtrend in the capital market had started to participate as the market began to rise on the government’s decision to implement the Tk 1200 crore refinancing scheme for the small investors affected by the stock market crash in 2010-2011.
The turnover of the bourse on the day increased to Tk 847.39 crore from the previous session’s Tk 821.69 crore.
The increasing turnover of the stock exchange reflects the growing confidence of the investors, they said.
‘Volatility continued in the bourse throughout the session. Participation stayed upbeat for the third consecutive sessions as confidence condensed. Resultantly, turnover closed at Tk 847.39 crore, holding peak within last 169 sessions,’ IDLC Investments said in its daily market commentary.
Of the 288 shares and mutual funds traded on the day, 138 advanced, 126 declined and 24 remained unchanged.
Family Tex, a newly listed company on the bourse, led both the turnover chart and the gainers’ list as its shares worth Tk 67.35 crore changed hands thanks to a 385 per cent increase.
RN Spinning Mills lost the most on the day, as the price of its shares declined by 8.25 per cent.
-With New Age input
