Dhaka stocks on Tuesday advanced for the fourth trading session on Tuesday with the turnover of the bourse soaring as investors hoped that the country’s political deadlock would be resolved soon as the ruling and opposition parties might hold dialogue on poll-time government.
The benchmark general index of the Dhaka Stock Exchange, DSEX, increased to 3,771.06 points, advancing by 2.48 per cent or 91.22 points on the day.
The DSEX on the day was at its highest in this year after 3,856.61 points on March 3.
The DSEX advanced by 254.14 points in the last four trading sessions.
The turnover of the bourse increased to Tk 423.77 crore from the previous trading session’s Tk 295.40 crore.
The previous highest turnover of the bourse for this year was Tk 433.99 crore on February 20.
Market operators said investors became optimistic about the market as different newspapers published reports that the ruling and main opposition parties would sit for a dialogue on the poll-time government issue following the United Nations’ intervention in this matter.
If the two political parties sit for a dialogue, it might bring an end to the ongoing confrontational politics in the country, they said.
The market, however, was on a rising trend from the last week when the finance ministry asked the Bangladesh Bank to provide Tk 1,266 crore in refinance to implement the scheme which was announced last year to compensate the retail investors who were affected by the stock market crash in 2010, they said.
DGEN, the old benchmark general index of the DSE, increased by 2.09 per cent, or 81.22 points, to finish at 3,957.05 points on the day.
The DGEN increased by 252.71 points in the last four trading sessions.
The blue-chip index of the bourse, DS30, increased to 1,380.07 points, advancing by 1.42 per cent or 19.45 points.
The DS30 in the last seven trading sessions advanced by 97.32 points after a bear-run in the previous three weeks.
‘Budgetary expectations and earnings outlook continue to drive the market, recent rally seemed to kick
start a rise in fresh investments, as previously inactive investors seemed to come out of hibernation,’ IDLC Investments said in its daily market commentary.
Of the 282 issues traded on the day, 250 advanced, 29 declined, and three remained unchanged.
General insurance sector witnessed the highest gain on the day with a 6.66-per cent increase and non-banking financial institutions sector gained 6.15 per cent.
United Airways topped the top 10 turnover leaders’ list with its shares worth Tk 20 crore changing hands on Tuesday.
-With New Age input
