Dhaka stocks advanced on Thursday, seventh trading session in a row, with the bourse’s key index hitting fresh high at 4,519.35 points since its inception last year as the political tensions were easing. Market operators said investors became optimistic due to an expectation that Bangladesh Bank would announce a relaxed monetary policy. An anticipation that the market would surge as the Awami League-led alliance formed government for a fresh term also made investors busy, they said.
The benchmark general index of Dhaka Stock Exchange, DSEX, gained 0.56 per cent, or 25.33 points.
The bourse’s key index was launch at 4,090.47 points on January 28 last year.
DS30, the blue-chip index of the DSE, advanced by 0.60 per cent, or 9.64 per cent, to close at 1,592.78 points.
‘Investors are expecting calm political situation as BNP chairperson Khaleda Zia did not announced any tough programme on Wednesday that kept investors active on the trading floor,’ Union Capital managing
director Akter Hossain Sannamt told New Age.
He said, ‘There is also a perception among investors that the government will take necessary steps to make a vibrant capital market as the different government institutions are now supporting the market,’ Sannamat said.
If the political situation remains calm in the coming days, it would be supportive for the country’s business and the capital market as well, he added.
The turnover at the DSE declined to Tk 643.51 crore from Tk 693.01 crore in the previous trading session.
The DSEX and DS30 gained 223 points and 86.75 points respectively in the last seven trading sessions.
Of the 293 shares and mutual funds traded on Thursday, 178 advanced, 96 declined and 19 remained unchanged.
‘After some hesitation in the initial hours, the market regained its momentum with strong activities,’ IDLC Investments said in its daily market commentary.
Earning expectations, coupled with optimism over upcoming monetary policy, created the bullish vibe in the sector, said IDLC.
‘Today’s [Thursday] session marked significant advancement in the financial sector, with non-bank financial institutions, non-life insurance and banks [sector] gaining 4.09 per cent, 1.82 per cent and 0.87 per cent respectively,’ it said.
Appollo Ispat led the turnover leaders with its shares worth Tk 24.80 crore changing hands on the day.
Active Fine Chemicals, Square Pharma, LankaBangla Finance, Bengal Windsor Thermoplastics, UCBL, Meghna Petroleum, Olympic Industries, Golden Son and Summit Purbanchol Power Company were among the other turnover leaders.
Information Services Network gained the most on the day with a 6.89-per cent increase in its share price, while Stylecraft lost the most, shedding 6.24 per cent.
-With New Age input
