Dhaka stocks advanced for the second trading session on Wednesday, hitting one and a half months high as a media report that the central bank might announce a relaxed monetary policy statement for January-June period made investors optimistic. DSEX, the benchmark general index of Dhaka Stock Exchange, gained 1.40 per cent, or 60.63 points, to 4,391.27 points, highest since November 21 last year when the index was at 4,395.93 points.
DS30, the blue-chip index of the bourse, advanced by 1.78 per cent, or 27.02 points, to close at 1,543.47 points on Wednesday.
If Bangladesh Bank declares a relaxed monetary policy for January-June period, it will give some space for the institutional investors to increase their investment in the capital market, Union Capital managing director Akter Hossain Sannamt told New Age.
Investors were also hopeful of an improved political situation after the 10th general elections, he said.
The turnover of the DSE increased to Tk 539.70 crore on Wednesday from Tk 456.12 crore in the previous trading session.
Large capitalised companies dominated the trading floor, with 2.28 per cent gain for the non-banking financial institutions sector, while fuel and power sector increased by 2.26 per cent and cement by 2.02 per cent respectively.
‘Improved expectations in the political frontier seemed to give a push-up to stock prices during Wednesday’s session,’ IDLC Investments said in its daily market commentary.
Entire session remained upbeat, with the DSEX ending at a 30-session high of 4,391 points, it said.
‘Financial sectors, particularly banks seemed to stir ahead of upcoming monetary policy statement by Bangladesh Bank, reinforced by earnings expectations and lucrative prices,’ IDLC said.
Of the 292 shares and mutual funds traded on Wednesday, 224 advanced, 46 declined and 22 remained unchanged.
Lankabangla Finance led the turnover leaders with its shares worth Tk 26.45 crore changing hands.
Golden Son, Beximco, Appollo Ispat, Summit Purbanchol Power Company, Square Pharmaceuticals, Grameenphone, Summit Power, Generation Next and Heidelberg Cement were among the other turnover leaders.
Beach Hatchery gained the most on the day with a 9.40-per cent increase in its share price, while Kohinoor Chemicals lost the most, shedding 5.79 per cent.
-With New Age input
