Dhaka stocks gained for the second trading session on Wednesday with the old key index of the Dhaka Stock Exchange, DGEN, hitting a nine-month high thanks to the optimistic participation of the investors.
The DGEN gained 1.85 per cent, or 86.73 points, on the day to finish at 4,770.48 points, the highest since September 25 last year when it ended at 4,774.65 points.The turnover of the bourse decreased to Tk 1,040.10 crore from the previous trading session’s Tk 1,294.61 crore, which was a two-year high since Tk 1,341.26 crore recorded on July 31 in 2011.
Market operators said the participation of the institutional investors increased after the June closing, which might be the reason behind the increase in the prices of the shares.
Fresh fund injection by the small scale investors also continued to make some contributions to the market, added the operators.
Investors’ participation on the trading floor is on the up since May when the government had decided to provide funds to reschedule loans of the affected small scale investors, they said.
The increase of foreign investment is another factor that boosted the investors’ confidence, they added.
The benchmark general index of the DSE, DSEX, finished at 4,345.45 points, gaining 0.55 per cent or 24.14 points.
DS30, the blue chip index of the DSE, advanced by 0.57 per cent, or 9.32 points, to finish at 1,643.47 points.
Of the 290 shares and mutual funds traded on the day, 118 advanced, 158 declined and 14 remained unchanged.
‘Positive political frontier and favorable macroeconomic phenomenon especially, better export growth with RMG’s export being $20 billion, highest ever, further pushed investors’ sentiment positively,’ IDLC Investments said in its daily market commentary.
‘Investors’ lofty confidence over continuation of bull run made turnover to record at Tk 1,040.10 crore,’ it also said.
Grameenphone led the turnover chart on the day as its shares worth Tk 92.17 crore changed hands.
Apex Tannery gained the most as the price of its shares increased by 9.97 per cent, while Imam Button declined the most, 8.86 per cent.
-With New Age input
