Dhaka, Bangladesh (BBN) – Dhaka stocks continued to soar for the third straight session on Monday with improving turnover value as optimistic investors are pouring fresh fund.
Market insiders said that the investors went for buying spree as optimism grew to the market following the newly elected leaders of the premier bourse and the expecting the market would be stable in future.
The benchmark general index of the Dhaka Stock Exchange (DGEN), the yardstick of the market went up by 46.46 points or 1.00 percent to close at 4,672.46.
The broader All Shares Price Index (DSI) soared 38.36 points or 0.99 percent to close at 3,913.35. The DSE-20 Index comprising blue-chip shares closed almost flat and rising 2.97 per cent or 0.08 per cent to close at 3,611.42.
“The market observed some profit taking, but it was overall positive, echoing on optimism regarding newly elected leaders of the DSE,” IDLC Finance Limited said in its daily market analysis.
The participation of investors in market has been increasing steadily, as the turnover value continued to rise for the sixth consecutive session, reaching the month-highest level of BDT 4.82 billion, it added.
“The investors are pouring money into the power and fuel companies as the fuel oil import is skyrocketing due to lack of alternative energy,” commented LankaBangla Securities.
High dividend yielding Grameenphone also continued to create positive trend of the market, it added.
Out of 261 issues traded, 181 advanced, 60 declined and 20 remained unchanged.
Turnover value crossed the 4.0 billion mark again and stood at BDT 4.82 billion which was 19.01 percent higher compared to BDT 4.05 billion in the previous session.
Beximco Limited continued to top the turnover chart with shares worth BDT 305.34 million changing hands.
The other turnover leaders were GP, Jamuna Oil, Sumit Power, MJL Bangladesh, Titas Gas, BSRM Steels, Golden Son, Keya Cosmetics and MI Cement.
MJL Bangladesh was the day’s highest gainer posting a rise of 8.69 percent while United Leasing was the worst loser.
BBN/SSR/AD-20Mar12-9:10 am (BST)