Dhaka, Bangladesh (BBN)– The Dhaka stocks bounced back on Thursday as investors regained their confidence after demonstration against massive fall Wednesday, market operators said.
The DSE General Index (DGEN) ended at 8580.20 with a gain of 1.52 per cent or 128.60 points. The broader All Shares Price Index (DSI) rose by 1.66 per cent or 115.95 points to 7117.11. The DSE-20 Index comprising blue chips was slightly up by 0.14 per cent or 6.94 points to 5123.36.
The market bounced back, as the investors regained their confidence, and in the coming days the market would be stabilized, they added.
Total turnover was BDT 16.2 billion on the day, 17.6 percent up from Wednesday’s BDT 19.7 billon. All the sectors gained on the day with Mutual Funds sectors gaining the most (10.20 percent), Banks (0.20 percent), non-banking financial institutions (2.61 percent) General Insurance (5.68 percent) and Life Insurance (1.91 percent), according to market reports.
DSE’s benchmark DGEN index sank more 6.37 percent of 547 points in the first 80 minutes of trading on Wednesday in a day of extreme volatility that saw market regain most of the losses in late hours to close at minus 1.56 percent.
The fall – the steepest in the DSE’s history – sparked wildcat street protests in Dhaka and half a dozen district towns by thousands of retail investors who sniffed conspiracy by a “vested group” in the sudden crash.
BBN/SSR/AD-10Dec10-1:15 pm (BST)