Dhaka stocks bounced back on Monday as investors bought shares to
avail lower prices of stocks after a three-day fall.
The benchmark general index of Dhaka Stock Exchange, DSEX, advanced by 1.74 per cent, or 64.24 points, to finish at 3,748.22 points.The DSEX had declined by 219.41 points in the last three trading sessions after advancing by 434.21 points.
Market operators said share prices rose as investors went for buying after a three-day fall.
Before the three-day fall, the market was upbeat after a government’s decision to refinance Tk 1,266 crore for the merchant banks and brokerage houses to implement the scheme for the small-scale investors affected by the stock market crash in 2010-2011, they said.
Investors’ participation on the trading floor increased on Monday, they said.
The old key index of the bourse, DGEN, finished at 3,958.81 points, gaining 1.63 per cent or 63.79 points.
The DGEN had declined by 201.75 points in the last three trading sessions after it had increased by 478.28 points in May.
DS30, the blue-chip index of DSE, advanced by 1.47 per cent, or 20 points, on the day to finish at 1,378.58 points.
The DS30 had declined by 61.77 points in the last three trading session after increasing by 137.76 points in this month.
‘After passing a disappointing start of the week, market climbed back today as optimism grew stronger regarding turnaround expectations. With prices cooling off a bit over last three sessions’ decline, fresh positioning increased today as lucrative prices lured in investors,’ IDLC Investments said in its daily market commentary.
‘The aftermath was a steady rise throughout the session for the first two hour, which moderated in the remaining period,’ it also said.
The turnover of the bourse advanced to Tk 187.42 crore from the previous trading session’s Tk 165.58 crore.
Of the 274 issues traded on the day, 245 advanced, 22 declined, and seven remained unchanged.
Orion Pharma led the day’s turnover chart with its shares worth Tk 18.45 crore changing hands, while United Airways, Aamra Technologies, Bangladesh Submarine Cable Company, Summit Purbanchol Power Company and Square Pharmaceuticals were also on the chart.
CMC Kamal gained the most on the day as its share price gained by 8.98 per cent, while Orion Pharmaceuticals was the worst loser, shedding 14.26 per cent.
-With New Age input
