Dhaka stocks advanced for the third trading session on Tuesday with an increased turnover as the banks’ shares prices continued to rise on investors’ optimism fuelled by hopes of a political dialogue.
The benchmark general index of Dhaka Stock Exchange, DSEX, added 0.95 per cent, or 37.63 points, to close the day at 3,989.14 points.DS30, the blue-chip index of the bourse, finished at 1,404.44 points, jumping 0.97 per cent, or 13.59 points.
Of the 284 shares and mutual funds traded on the day, 160 advanced, 106 declined and 18 remained unchanged.
The turnover of the bourse increased to Tk 391.57 crore from the previous session’s Tk 368.61 crore.
Banking sector gained 1.67 per cent, which was the main driving force of the day. Among the 29 issues of this sector traded, 24 advanced and five remained unchanged.
Market operators said that the market had started the day negatively, but it bounced back within 15 minutes as the prices of most of the shares of the banking sector started to increase.
Hopes of a dialogue between the prime minister and the leader of the opposition have been making the investors active on the trading floor for the last three trading sessions, they said.
Investors are hopeful that if the political parties hold a dialogue over
forming of the next polls-time government the ongoing political crisis would be eased, said the operators.
‘With a total surge of 190 points in last three positive sessions, DSEX made robust movement and closed at last one-month’s peak of 3,989.14 points, today [Tuesday],’ IDLC Investments said in its daily market commentary.
‘Riding on political hopes, market had been maintaining green zone, consecutively,’ it said.
‘Alongside, investors’ incremental confidence and apparent optimistic market outlook convinced some sideline witty participants. Besides, portfolio rebalancing based on recent earnings disclosures existed,’ it also said.
Argon Denims led the turnover chart on the day as its shares worth Tk 20.52 crore changed hands.
United Commercial Bank, Delta Life Insurance, Envoy Textile Mills, Generation Next Fashions, Golden Son, BEXIMCO, Takaful Insurance, National Bank and Active Fine Chemicals were the day’s other turnover leaders.
Summit Purbanchol Power Company gained the most on the day as the price of its shares increased by 9.85 per cent, while Jute Spinners lost the most, 30.19 per cent.
-With New Age input
