Dhaka stocks advanced on Tuesday after a decline in the previous trading session due to increase in prices of shares of large capitalized companies, including multinational companies.
The key index of Dhaka Stock Exchange, DSEX, finished at 4,606.75 points, adding 0.72 per cent or 33.18 points. The DSEX from the begging till the end of the trading remained upbeat on Tuesday.
Market operators said that large capitalized companies, including some MNCs, got attraction as investors were expecting quick profit from such stocks.
Along with these, track records of large capitalized companies’ shares and apprehension of improved financial performance also lured them, operators said.
Meghna Petroleum, Grameenphone, Olympic Industires, Lafarge Surma Cement, Padma Oil, Heidelberg Cement, Jamuna Oil, Square Pharmaceuticals, Bangladesh Shipping Corporation and Bangladesh Submarine Cable Company were the top ten traded stocks of the day.
Excessive volatile small capitalized companies’ shares got less attention of the investors as they were taking such stocks as insecure investment, they said.
Eight out of the top ten losers of the day came from the small capitalised companies, Paragatin Insurance, Nitol Insurance, Rahima Food, Central Pharmaceuticals, Modern Dyeing, Takaful Insurance, Rupali Life Insurance and Meghna Pet.
DS30, the blue-chip index of the bourse, increased by 1.52 per cent, or 25.62 points, to close at 1,703.30 points on the day.
The shariah index of DSE, DSES, increased at 1,036.47 points, advancing 1.51 per cent or 15.50 points.
Of the 292 shares and mutual funds traded on the day, 109 advanced, 166 declined and 17 remained unchanged.
Turnover of the bourse increased at Tk 547.14 crore compared with interrupted two hour’s trading of Tk 224.28 crore in the previous trading session.
‘Enlarged upswing in large caps, particularly from top ten market cap scrips pulled up the market on the day despite majority of the traded scrips faced price correction,’ IDLC Investments said in its daily market commentary.
‘As a result, DSEX ended in green zone and crossed 4,600 points level,’ it said.
‘Meanwhile, investors’ active participation amplified turnover to cross Tk 500 crore level again,’ it said.
Higher relative strength was observed in fuel and power sector, capturing more than Tk 120 crore turnover.
Desh Garments gained the most on the day as its share prices increased by 9.10 per cent, while City Bank was the worst loser of the day shedding by 16.58 per cent.
-With New Age input
