Dhaka stocks on Wednesday sizzled past the 8,100-point mark for the first time as investors continued pouring funds into the market which became highly overheated in recent time, market operators said.
The benchmark general index of Dhaka Stock Exchange gained 58.23 points, or 0.72 per cent, to close at 8,114.26 points on the day. The index crossed the 8,000-point mark for the first time on Tuesday.
Market experts observed that a massive gap between demand for and supply of shares resulted in an overheating of the stocks.
A merchant banker said investor’s participation increased in the market because of lack of alternative investment sectors.
Most of the investors bought shares on the day, he said.
A DSE stockbroker said a rumour that government would not offload more of its stakes in eight listed state-owned enterprises within the time the finance minister announced put a brake on the free-falling in share prices of the SoEs.
Most of the banks gained on the day as the investors are waiting for corporate results of the financial institutions, he added.
Earlier, on October 24, the finance minister, AMA Muhith, declared that the government was going to offload more of its stakes in eight SoEs within 20 days.
Out of the total 239 issues traded on the DSE, 91 advanced, 145 declined, and three remained unchanged.
The daily turnover on the bourse was Tk 2,581.18 crore, up by Tk 251.66 crore from the previous day.
AB Bank topped the turnover leaders with 6.90 lakh shares valued at Tk 98.83 crore traded on the day.
The rest of the turnover leaders were Southeast Bank, City Bank, Pubali Bank, Beximco, Shahjalal Islami Bank, Peoples Leasing and Financial Services, Uttara Finance, Mercantile Bank and Premium Bank.
Tallu Spinning was the day’s biggest gainer, posting a 13.86-per cent rise in its share prices while CMC Kamal was the worst loser.
