Dhaka stocks advanced for the third trading session on Wednesday with its key index, DSEX, hitting four-month high. The key index of the Dhaka Stock Exchange rose by 0.65 per cent, or 30.02 points, to finish at 4,632.46 points on the day — the highest after it was at 4,666.41 points on April 28. Market operators attributed the current market trend to investors’ growing confidence and fresh investment in the capital market.
Investors expect that the political situation is likely to remain stable as the Bangladesh Nationalist Party is yet to declare any tough movement, they said.
If the political situation remains calm, that will also help sustain a stable business situation of the country, stockbrokers said.
Besides, low bank interest rate on deposit might be another reason to increase fresh fund flow in the capital market, they said.
Tough regulatory steps against the asset management companies to increase their capital market investment from the mutual funds might be another reason to increase their participation on the trading floor, the stock brokers said.
Investors were mostly focused to the small capitalised companies’ shares on the day as almost all out of the top 30 gainers were from the segment, they said.
DS30, the blue-chip index of DSE, on Wednesday reached to fresh all-time high at 1,758.07 points, adding 0.96 per cent or 12.07 points.
The DS30 on Tuesday hit the earlier all-time high after its inception with 1,460.30 points on January 28, 2013.
The shariah index of DSE, DSES, also increased to fresh all-time high at 1,087.12 points, adding 0.32 per cent or 3.55 points on the day.
The bourse on January 20 this year introduced the shariah index when it was at 941.27 points.
Of the 298 shares and mutual funds traded on Wednesday, 205 advanced, 67 declined and 26 remained unchanged.
Turnover of the bourse remained almost the same to the previous trading session with shares worth Tk 550.65 crore changing hands.
‘Gaining tone in equity market sustained, with investors’ focus on micro capitalised companies stocks,’ IDLC Investments said in its daily market commentary.
‘Besides, some large capitalised stocks assisted the extension of previous session’s positivity, at opening hour,’ it said.
‘Alongside, blue-chip index, DS30 recorded its historical crest of 1,758.07 points to return 20.39 per cent, since inception,’ said IDLC.
Lafarge Surma Cement led the turnover chart on the day as its shares worth Tk 25.89 crore changed hands.
Grameenphone, BEXIMCO, Beximco Pharma, MJL Bangladesh, Summit Power, Bengal Windsor Thermoplastics, BSRM Steels, United Airways and Square Pharmaceuticals were among other turnover leaders of the day.
Intech Online gained the most on Wednesday as its share prices increased by 10 per cent, while Libra Infusions was the worst loser of the day with a 3.67 per cent decline in share prices.
-With New Age input
