Dhaka stocks advanced on Monday, after declining in previous three trading sessions, as investors turned their attention to shares of banks and non-bank financial institutions and other large capitalised companies. The key index of the Dhaka Stock Exchange, DSEX, increased at 4,564.34 points, adding 0.52 per cent or 23.74 points. Investors increased attention to the banks and NBFI shares in line with share switching move that helped the market to give a positive momentum, market operators said.
Investors on the day also purchased increased number of mutual funds and ceramic sector shares, they said.
Along with the institutional investors’ active participation, big investors also increased their participation in the trading which helped the market in sustaining turnover of around Tk 700 crore for last couple of sessions, they said.
DS30, the blue-chip index of DSE, rose by 0.38 per cent, or 6.70 points, to close at 1,728.44 points.
DSES, the Shariah index of DSE, finished at 1,063.02 points, increasing 0.27 per cent or 2.87 points.
Turnover of the bourse declined to Tk 707.30 crore on Monday compared with the turnover of Tk 738.17 crore in the previous trading session.
Of the 295 shares and mutual funds traded on the day, 155 advanced, 117 declined and 23 remained unchanged.
‘After consequent three days of downhill, the market turned around on Monday and benchmark index DSEX closed in green, gaining 23.74 points at 4,564.35,’ IDLC Investments said in its daily market commentary.
‘Investors continued to accumulate large cap stocks with turnover crossing Tk 700 crore for the consecutive second day,’ it said.
‘The strong turnover in last few weeks shows investors’ growing interest and consequent fresh money injection,’ said IDLC.
BEXIMCO led the turnover chart as its shares worth Tk 47.54 crore changed hands on the day.
Shares of the company rose by another 5.81 per cent or Tk 2.40 on Monday.
BEXIMCO’s share prices almost doubled in last two-and-half months despite decline in its net profit in the first half of the year.
MJL Bangladesh, BSRM Steels, Lafarge Surma Cement, Square Pharmaceuticals, Khulna Printing and Packaging, Summit Power, Grameenphone, ACI Limited and Bangladesh Shipping Corporation were among other top ten turnover leaders of the day.
Summit Alliance Port gained the most on Monday as its share prices increased by 9.50 per cent, while Pragati Life Insurance was the worst loser of the day with 31 per cent decline in share prices as the company did not declared any dividend for its shareholders.
-With New Age input
