Dhaka, Bangladesh (BBN)- Bangladesh’s stocks at both the bourses - Dhaka and Chittagong - bounced back strongly on Tuesday with a big jump in turnover.
Market analysts said the investors’ confidence strong further as they shook off the worries regarding High Court Rule against a writ petition which encouraged them to take fresh position.
Dhaka stocks ended higher on the day and the key index surged more than two per cent with increasing turnover value as optimism resumed in the market.
The market opened with a bullish mood, gaining more than 70 points within five minutes and the uptrend continued steadily for the rest of the session and finally ended almost 115 points higher.
The benchmark General Index, the gauge of Dhaka Stock Exchange--- (DGEN), ended at 5,214.02, rising 114.98 points or 2.25per cent.
The broader All Shares Price Index (DSI) climbed 98.90 points or 2.17 per cent to close at 4,373.22. The DSE-20 Index comprising blue-chip shares also gained 56.24 points or 1.49 per cent to close at 3,816.41.
Turnover value increased significantly and stood at BDT 9.29 billion, up by 35 per cent compared to BDT 6.89 billion in the previous session.
Similarly, the Chittagong bourse recorded a turnover of BDT 765.90 million against Monday’s BDT 678.50 million.
Most of the issues traded at the DSE advanced in prices on the day. Out of 259 issues traded, 220 advanced, 31 and eight remained unchanged.
Grameenphone got a boost as proposal of SIM Tax reduction by Association of Mobile Telecom Operators of Bangladesh, made investors optimistic.
Grameenphone (GP) topped the turnover chart with shares worth BDT 766.99 million changing hands.
The other turnover leaders were Titas Gas, Beximco Limited, Aftab Automobiles, Jamuna Oil, MI Cement, Sumit Power, Lafarge Surma Cement, Olympic and Meghna Petroleum.
Tallu Spinning was the day’s highest gainer posting a rise of 9.97 per cent while Trust Bank was the worst loser.
On the other hand, the Chittagong Stock Exchange (CSE) key index, CSCX, also gained 245.79 points to close at 9748.44 today. The key index slipped 13.13 points on Monday.
Of the issues traded at the CSE, 161 advanced, 25 suffered losses and
10 remained unchanged.
On Monday, the two bourses entered to the negative territory after fluctuations, losing almost what they gained on Sunday.
BBN/SSR/AD-11Apr12-7:40 am (BST)
