DSE goes into nine-day holiday
Dhaka stocks rebounded on Thursday, last trading session before a nine-day market closure, with an increased turnover as improved financial statements of listed companies, mostly banks, made investors optimistic. Trading at the bourse will remain closed from July 25 to August 2 for Eid-ul-Fitr and weekly holidays. The key index of Dhaka Stock Exchange,
DSEX, closed at 4,427.15 points, adding 0.87 per cent or 38.46 points.
Of the 299 shares and mutual funds traded on the day, 199 advanced, 74 declined and 26 remained unchanged.
Prices of two-third of the traded shares increased on the day as improved earning disclosures by the listed companies prompted investors to increase participation on the trading floor, market operators said.
They said an expectation of a capital market-friendly monetary policy statement by the central bank was another reason for the investors’ optimism.
A Bangladesh Bank senior official recently told reporters that the monetary policy for the next six-months would be capital market-friendly.
DS30, the blue-chip index of the bourse, increased by 1.52 per cent, or 24.47 points, to finish at 1,626.51 points on Thursday.
The Shariah index of the bourse, DSES, closed at 1,004.66 points, increasing by 1.15 per cent or 11.42 points.
The turnover of the DSE increased to Tk 339.53 crore from Tk 318.86 crore in the previous trading session.
‘Closing session ahead of Eid-ul-Fitr stepped up with investors’ focus on large capitalised scrips,’ IDLC Investments said in its daily market commentary.
Coupled with improved half-yearly earning disclosures, MPS expectations and favourable prices at scrip-level acted as the core catalysts for Thursday’s upturn, it said.
Scrip-wise movements were significant as several companies declared earnings on Thursday, said IDLC.
‘Besides, investors’ participation increased slightly, holding total turnover up above Tk 300-crore level for the third consecutive session,’ it said.
Grameenphone led the turnover leaders with its shares worth Tk 59.55 crore changing hands on the day. The share price of the company gained Tk 9.80 or 3.29 per cent.
Beximco, Lafarge Surma Cement, Shahjibazar Power Company, Padma Oil, Far Chemical Industries, Olympic Industries, Square Pharmaceuticals, Meghna Petroleum and ACI Limited were among the other turnover leaders.
Shahjibazar Power Company gained the most with a 9.93-per cent increase in its share price, while Savar Refractories lost the most, shedding 9.16 per cent.
-With New Age input
