Dhaka stocks rebounded on Tuesday after a three-day fall with an increase in turnover as tension in the market eased following the Dhaka Stock Exchange’s withdrawal of a letter that asked 50 brokerage houses to give all the trading details of their clients.
DSEX, the benchmark general index of the DSE, advanced by 0.06 per cent, or 2.47 points, to finish at 4,073.63 points.
DS30, the blue-chip index of the bourse, closed at 1,517.88 points, gaining 0.40 per cent or 6.17 points.
The turnover of the bourse increased to Tk 516.14 crore from the previous trading session’s Tk 427.69 crore.
Of the 293 shares and mutual funds traded on the day, 140 advanced, 122 declined and 31 remained unchanged.
Market operators said the withdrawal of the DSE order in the previous day relieved investors from panic.
The DSE on Sunday issued the letter to 50 brokerage houses, seeking trading details of their clients, they said.
On the other hand, the latest call made by the US secretary of state John Kerry to the main two political parties to settle the dispute over the polls-time government made investors hopeful as they thought it could ease the ongoing political tension, they said.
Market operators said if the ruling party and the opposition could reach a solution to the dispute, it would put positive impact on the capital market.
‘Continuous pressure from foreign diplomats on political parties to ease up political frontier knocked investors’ sentiment positively during today’s [Tuesday] session. This acted as a core catalyst for opening hype of 46 points in first two hours. But, situation inverted and index continued to slide in the remaining session over profit booking,’ IDLC Investments said in its daily market commentary.
‘Meanwhile, frequent scrip-wise swings were observed as 53 out of 293 traded scrips displayed more than 4 per cent change in their respective prices,’ it also said.
RN Spinning Mills led the turnover leaders’ chart as its shares worth Tk 50.58 crore changed hands on the day.
Bangladesh Submarine Cable Company, Grameenphone, CVO Petrochemical Refinery Heidelberg Cement, Square Textile, Tallu Spinning, Padma Oil, United Airways, Meghna Petroleum and Apex Adelchi Footwear were the day’s other turnover leaders.
Modern Dyeing and Screen Printing and Jute Spinners gained the most, advancing by 10 per cent each, while Rangpur Foundry lost the most, shedding 8.22 per cent.
-With New Age input
