Dhaka stocks advanced on Wednesday, the first trading session of 2014, led by low capitalised scrips as institutional investors went for buying.
The benchmark general index of Dhaka Stock Exchange, DSEX, increased to 4,286.15 points, adding 0.45 per cent or 19.60 points. DS30, the blue-chip index of the bourse, gained 0.82 per cent, or 12.12 points, to close at 1,478.38 points on the day.
Market operators said institutional investors were active on the market after Bangladesh Bank on Monday extended time by one more year for adjusting single borrower exposure limit by the commercial banks’ subsidiary brokerage houses and merchant banks.
Small-scale investors were also hopeful that the banks might increase their investment in the capital market after their yearend, they said.
Mix performance by the scheduled banks in the just-concluded year in posting operating profits might have impacted on the banking sector on the day, they said.
The turnover of the bourse increased to Tk 411.97 crore on Wednesday from Tk 381.83 crore in the previous trading session.
Of the 291 shares and mutual funds traded on the day, 165 advanced, 97 declined and 29 remained unchanged.
‘The maiden session of 2014, started optimistic with DSEX climbing up 60 points by mid-session. However, selling pressure kicked in then, which ultimately reverted DSEX back to below 4,300 points level at 4,286 points,’ IDLC Investments said in its daily market commentary.
In the mean time, turnover captured a modest growth from that of the previous session, centring on the textile sector, it said.
‘At the same time, operating profit data, published in the major daily newspapers appeared to have influence bank stocks which declined by 0.21 per cent on the day,’ IDLC said.
Lankabangla Finance led the turnover leaders with its shares worth Tk 22.55 crore changing hands on the day.
Golden Son, Generation Next Fashions, RN Spinning, Appollo Ispat Complex, Familytex, Delta Life, Tallu Spinning, Meghna Petroleum and Mercantile Bank were also among the other turnover leaders.
Padma Oil gained the most with an 8.68-per cent increase in its share price, while RN Spinning Mills lost the most, shedding 9.75 per cent.
-With New Age input
