Turnover rises to 2-month high
Dhaka stocks continued to rise on Wednesday with turnover rising to a two-month high and the DSE’s key index climbing to its fresh high at 4,640.55 points since its inception last year as the recent upward trend lured the investors who were inactive for a long time.
The benchmark general index of Dhaka Stock Exchange, DSEX, climbed to 4,640.55 points, adding 1.21 per cent or 55.93 points.
The turnover at the DSE increased to Tk 834.88 crore on Wednesday while it was Tk 710.89 crore in the previous trading session.
Wednesday’s turnover was highest since on November 20 last year when it was Tk 889 crore.
Market operators said the market was rising in recent weeks as investors were anticipating another bubble and an improved political prospect.
They said institutional and individual investors were injecting fresh fund amid an anticipation of another bubble at the capital market as the Awami League-led alliance formed government for a fresh term.
In 2009-2010, DGEN, the old benchmark general index of the DSE, increased abnormally after the formation of AL-led government. The same thing happened in 1996. On both occasions, the bubble burst.
An expectation of an eased political situation as the BNP-led alliance refrained from declaring any tough programme against the government after the elections made investors hopeful, operators said.
They said investors were also expecting that the government would provide policy support to the capital market.
Positive corporate declarations from a number of listed companies also attracted investors, they said.
The blue-chip index of the bourse, DS30, increased by 1.57 per cent, or 25.36 points, to close at 1,640.06 points on Wednesday.
The DSEX and the DS30 increased to its highest value on Wednesday after their launch with 4,055.90 points and 1,460.30 points respectively on January 28 last year.
In January this year, the DSEX and DS30 so far advanced by 374 points and 173.81 points respectively.
DSES, the newly-introduced shariah index of the bourse, finished at 961.07 points, advancing by 1.41 per cent or 13.38 points on Wednesday.
Of the 295 shares and mutual funds traded, 191 advanced, 83 declined and 21 remained unchanged.
‘Consistent rise in the market reinforced investors’ confidence, resulting in turnover worth Tk 834 crore the highest in last two months,’ IDLC Investments said in its daily market commentary.
Padma Oil led the turnover leaders with its shares worth Tk 28.64 crore changing hands.
-With New Age input
