Dhaka stocks advanced for the second trading session on Tuesday after a sharp fall on Sunday as investors became optimistic following a post-budget briefing by the Dhaka Stock Exchange.
DSEX, the benchmark general index of the DSE, advanced by 1.39 per cent, or 55.91 points, to close at 4,062.74 points on the day.The DSEX plunged by 145.31 points on Sunday, the first trading session after the next fiscal year’s budget which was proposed on Thursday.
Market operators said investors’ participation increased from Monday following a post-budget briefing by the DSE.
At the post-budget briefing, DSE president Rakibur Rahman said government’s decision of scrapping the scope for legalising undisclosed money in the capital market would not affect the capital market.
Following the assurance by the DSE president, the DGEN advanced by 124.01 points on Monday.
DGEN, the old key index of the bourse, finished at 4,309.69 points, gaining 1.01 per cent or 43.06 points on Tuesday.
The blue-chip index of the DSE, DS30, closed at 1,513.97 points on the day, advancing by 1.14 per cent or 17.08 points.
The participation of the institutional and foreign investors also increased on the trading floor, merchant bankers said.
A media report that the Bangladesh Bank might release fund worth Tk 900 crore for the capital market from July this year also inspired investors, they said.
The turnover of the bourse increased to Tk 645.17 crore from the previous trading session’s Tk 473.44 crore.
Of the 286 issues traded on the day, 161 advanced, 106 declined, and 19 remained unchanged.
‘Continuous participation above Tk 600 crore made the market active for the second time in the ongoing year. Spontaneous participation backed by hope and excitement helped the market to gain 43 points from previous session,’ IDLC Investments said.
‘During today’s [Tuesday] session, investors started to rotate at scrips level for a never stopping search for higher profit,’ it also said.
Bangladesh Submarine Cable Company led the turnover chart with its shares worth Tk 31.10 crore changing hands on the day.
National Housing Finance and Investments gained the most on Tuesday as its share price advanced by 9.93 per cent, while Reckitt Benckiser lost the most — 7.14 per cent.
-With New Age input