Stocks returned to the black yesterday riding on investor optimism fuelled with renewed possibility of World Bank’s loan revival for the Padma bridge.
DGEN, the benchmark General Index of Dhaka Stock Exchange, finished the day at 4,632.10 points, after surging 53.20 points or 1.89 percent.
Media reports on the one-month leave of Mashiur Rahman, the prime minister’s economic affairs adviser, stroked investor sentiments positively as it demonstrated the government’s intent to get the $1.2 billion loan from World Bank for Padma Bridge construction, LankaBangla Securities said.
“Investors’ optimism about the Padma bridge financing helped the market to have a broad based rally,” stated IDLC Investments.
A strong liquidity inflow supported by optimistic buying by the investors pulled the market and helped it break above 4,600 points, it said.
“Cement rallied strongly at the news of possible breakthrough about the latest of World Bank financing,” the merchant bank said.
Turnover rose 14.49 percent to Tk 1,089 crore, compared to the previous day.
A total of 2.14 lakh trades were executed with 22.47 crore shares and mutual fund units changing hands.
Newly listed companies continued to dominate the top gainers list. Financial sector companies had corrections after posting gains.
Among all the major sectors, information technology rose 7 percent, followed by textile at 6.92 percent and cement by 4.54 percent. Banks closed in the red.
-With The Daily Star input
