Stocks gained yesterday for a fifth day with a significant turnover as investor confidence was boosted by the recent government initiatives despite a shutdown until noon.
The benchmark general index of the Dhaka Stock Exchange, DGEN, went up 20 points or 0.32 percent, to end the day at 6,458. The selective categories index of the Chittagong Stock Exchange, CSCX, added 13 points or 0.12 percent, to close at 11,654.
The market started the day on a positive note. At different brokerage houses in Motijheel, investors’ participation was high despite a shutdown.
Some investors went for profit-taking sales at the beginning, while most of them were busy in fresh buying with a hope that the market will gain gradually.
The government’s decision of allowing undisclosed money into the stockmarket has kept the investor confidence high for the last few days, said an analyst.
The hope that much liquidity would flow into the market also kept the market steady as the National Board of Revenue decided that black-money investors will have to keep the invested capital in the stockmarket for two years, he added.
Turnover on the premier bourse stood at Tk 1,581 crore, a 3.9 percent decline from the previous day’s Tk 1,646 crore.
Of the total 260 issues traded on the DSE, 177 advanced, 74 declined and nine remained unchanged.
The cement sector gained 3.69 percent as Lafarge Surma Cement advanced 7.4 percent in a single day and 24.3 percent in the last three sessions based on the news that the company got clearance from Indian Supreme Court to mine limestone from a site in Meghalaya state.
The fuel and power sector went up 1.14 percent, pharmaceuticals 1.12 percent and non-bank financial institutions 0.29 percent, while the telecommunication lost 0.46 percent and banks 1.09 percent.
The other turnover leaders were United Airways, Bextex, ONE Bank, RN Spinning Mills, United Commercial Bank, Titas Gas, BSMR Steels and MI Cement Factory.
Beach Hatchery was the biggest gainer of the day, posting a 9.91 percent rise, while Industrial Promotion and Development Company of Bangladesh was the worst loser, declining by 3.1 percent
-With The Daily Star input