Dhaka, Bangladesh (BBN) - Dhaka stocks back to the green on Wednesday, after three straight sessions of losses and key index soared one and a half per cent as investors went for buying binge raising hopes for a sustainable rebound.
Market insiders said that investors were somewhat optimistic following more sponsor-directors announced to buy shares of their company’s to comply regulator’s directive to hold minimum shares.
The market opened with positive note, gaining more than 55 points within first 20 minutes upon resumption of day’s trading and the upbeat mood continued throughout the session amid minor ups and down and finally ended more than 62 points higher.
The benchmark general index of Dhaka Stock Exchange (DGEN), the main gauge of the market went up by 62.78 points or 1.50 percent to close at 4,246.31.
The broader All Shares Price Index (DSI) soared 50.93 points or 1.45 percent to close at 3,561.57. The DSE-20 Index comprising blue-chip shares advanced 52.94 points or 1.54 percent to close at 3,486.88.
Fresh buyback proposals by the sponsors/directors of the listed companies and dividend declarations for the last calendar year helped the market rebound, a market analysts said.
The prices of most traded issues at the DSE advanced as out of 259 issues traded, 217 gained, 28 suffered losses and 14 remained unchanged.
Turnover value stood at BDT 2.25 billion in value terms against BDT 2.30 billion in the previous session, indicating institutional participation still remained at a low level.
A total of 54.13 million shares changed hands on the day against 54.49 million in the previous session. The trade deals decreased to 72, 922 against Monday’s 75,654.
The total market capitalization of the DSE stood at BDT 2,250.47 billion against BDT 2,228.83 billion in the previous session.
Beximco Limited topped the turnover chart with shares worth BDT 128.70 million changing hands.
The other turnover leaders were National Bank, LankaBangla Finance, GP, Dhaka Bank, Southeast Bank, RN Spinning, Islami Bank, SIBL and Mercantile Bank.
LankaBangla Finance was the day’s highest gainer posting a rise of 7.46 percent.
It was followed by Mithun Knitting, Prime Finance First Mutual Fund, S Alam Cold Roll Still Mills, Berger Paints, AB Bank, First Bangladesh Shilpa Rin Sangstha MF, Eastern Bank, Progressive Life Insurance and Standard Ceramics.
The day’s worst losers included National Bank, Northern Jute Manufacturing, Samorita Hospital, DBBL, Hakkani Pulp and Papers, Pragati Life Insurance, Reliance Insurance, Zeal Bangla Sugar Mills, Marico Bangladesh and Peoples Insurance.
BBN/BB/SI-22Feb12-8:15 pm (BST)
