Dhaka, Bangladesh (BBN) - Dhaka stocks gained for the second straight session on Wednesday with substantially rising turnover, as the investors were active through out the trading session.
The turnover value continued to rise, crossing the BDT 8.0 billion mark since November 23 last year and stood at BDT 8.08 billion against BDT 7.10 billion in the previous session, according to the Dhaka Stock Exchange (DSE).
The market shot up more than 45 points within five minutes and the momentum continued until the market closure amid moderate ups and downs and finally ended the day more than 82 points higher.
The benchmark general index of the DSE, generally known as DGEN, has advanced 82.52 points or 1.52 percent to close at 5,483.55 points.
The broader DSE All Shares Price Index (DSI) went up by 74.56 points or 1.65 per cent to close at 4,570.95. The DSE-20 blue-chip index also advanced 49.06 points or 1.23 per cent to close at 4,015.02.
“Activities in the country’s premier bourse increased heavily as the market continued to rise with increasing participation of the retail investors,” LankaBangla Securities said in its daily market analysis.
It also said prices of small cap speculative shares slowed down on the day, while large caps like GP and Titas Gas saw their share price gaining substantially.
The market operators, however, said the investors’ confidence boosted up, as the market had showed some stability in the last few sessions. The news of shares buy by more sponsors/directors also encouraged the investors to go for fresh investment.
The investors are expecting that the liquidity situation may improve further due to record remittance inflow and extending ADB loan for power sector, they added.
The Bangladesh government signed US$300 million loan deal with Asian Development Bank (ADB) on Wednesday to improve its power sector.
A total of 153.57 million shares changed hands on the day against 130.50 million in the previous session. The trade deals also increased to 194,120 against Tuesday’s 186,170.
Total market capitalization of the DSE increased to BDT 2,714.54 billion against BDT 2,679.24 billion in the previous session.
Out of 265 issues traded, 143 advanced, 116 declined and six remained unchanged.
All major sectors gained on the day. Fuel and power sector advanced 2.46 per cent.
Banking issues, which make up more than one-third of the DSE market capitalization, went back on gaining track snapping the two straight sessions of fall. The sector gained 1.80 percent.
Telecommunication sector gained 1.80 percent while pharmaceuticals and non-banking financial institutions advanced 1.44 percent and 0.08 percent respectively.
Cement sector gained 5.12 percent and was the day’s top gaining sector, as Lafarge Surma Cement advanced 9.90 percent alone.
United Airways was the top turnover chart with shares worth BDT 338.33 million changed hands.
The other turnover leaders were Grameenphone, National Bank, Beximco Limited, SIBL, Beximco Pharma, Fu-Wang Ceramic, Keya Cosmetics, Titas Gas and RN Spinning.
Prime Life Insurance was the highest gainer on the day and gained 8.43 percent.
It was followed by Midas Financing, BSC, Popular Life Insurance, Berger Paints, Marico Bangladesh, DESCO, Sixth ICB, Paragati Life Insurance and United Airways.
Modern Dyeing was the worst loser of the day and lost 5.80 per cent followed by National Housing and Finance, Samorita Hospital, First ICB, Kohinoor Chemicals, Rahima Food, Prime Insurance, Purabi General Insurance, BIFC and Salvo Chemicals.
BBN/SSR/AD-05Jan12-1:28 am (BST)