Dhaka stocks gained for the third trading session on Wednesday as the turnover hit the Tk 200 crore mark after a month riding on active participation of the investors
thanks to the regulator’s decision to relax the margin rules.
The turnover of the Dhaka Stock Exchange on the day increased to Tk 209.80 crore, a 12.03 per cent increase from the earlier trading session’s Tk 187.26 crore.
The last time the bourse recorded a turnover of over Tk 200 crore was on March 6 when issues worth Tk 278.41 crore were traded.
The benchmark general index of DSE, DSEX, finished at 3,611.30 points, gaining 0.46 per cent, or 16.87 points, on the day.
The DSEX have now gained 118.03 points in the last three trading sessions, a sharp contrast to the previous three weeks when it had lost 369.43 points.
The investors became optimistic after the Bangladesh Securities and Exchange Commission on Tuesday had relaxed the margin rules to increase participation of the investors in the market, said market operators.
The BSEC decision also gave the investors a signal that it was willing to stabilise the market, they said.
The rumour that the banks would increase their investment in the capital market as the interbank call money rate has declined to 7 per cent also encouraged the investors. The decline in call money rate means the banks have no money crisis for now, they observed.
The interbank call money rate increased to 20-22 per cent last year due to huge liquidity crisis in the banking sector.
If the liquidity crisis in the banking sector eases they will have extra money to invest, which might impact the market positively, said a merchant banker.
The scope for the mutual funds to declare stock dividends also had a positive impact on the stock market, he said.
All these gave the investors a positive signal, which paved the way for the turnover to hit the Tk 200 crore mark, he added.
The old benchmark general index of the bourse, DGEN, gained 0.16 per cent, or 6.05 points, to finish at 3,738.70 points on Wednesday.
The DGEN have now gained 88.97 points in the last two trading sessions while it had lost 281 points in the previous two weeks.
DS30, the blue-chip index of the bourse, ended flat by advancing 0.10 per cent, or 1.43 points, to finish at 1,330.53 points on the day.
Among the 278 issues traded on the day, 155 advanced, 101 declined and 22 remained unchanged.
Orion Pharma topped the day’s turnover chart as its shares worth Tk 11 crore changed hands.
Modern Dyeing and Screenprinting led the gainers’ list as its shares went up by 9.95 per cent while Trust Bank lost the most, 8.46 per cent.
-With New Age input
