Dhaka stocks advanced for the second trading session on Sunday as some state owned-entities were active on the trading floor to keep the market afloat.
The benchmark general index of Dhaka Stock Exchange, DSEX, advanced to 3,993.33 points, gaining 0.64 per cent, or 25.60 points. DS30, the blue-chip index of the bourse, added 1.82 per cent, or 25.70 points, to finish at 1,433.85 points.
The turnover of the bourse, however, declined to Tk 315.23 crore from the previous session’s Tk 351.83 crore.
The lower turnover suggests thin investors’ participation as most of them opted for a wait-and-see policy ahead of the 60-hour general strike enforced by the opposition alliance, market operators said.
It might be the institutional investors who had tried to keep the market afloat after a negative start on the day, they added.
Merchant bankers said that political movement had become the main driving force of the market in the recent times as each and every change on the political front made an impact on the market.
Of the 278 shares and mutual funds traded on the day, 169 advanced, 86 declined and 23 remained unchanged.
‘Cumulative buying force again pushed DSEX over 4000 level, but failed to sustain as the country’s political destination remained uncertain. At the wake of a 60 hours countrywide strike and probable continued divergence in political forces,’ IDLC Investments said in its daily market commentary.
Textile and power sectors were the most vibrant ones on Sunday as they captured 26 per cent and 15 per cent of the day’s total turnover.
Cement sector gained the most, 3.94 per cent, while banking sector lost the most, 1.89 per cent.
RN Spinning led the turnover chart on the day as its shares worth Tk 15.38 crore changed hands.
Envoy Textile Mills, Grameenphone, Generation Next Fashions, Heidelberg Cement, Argon Denims, Meghna Petroleum, Padma Oil, Jamuna Oil and Titas Gas were the day’s other turnover leaders.
-With New Age input
