Dhaka, Bangladesh (BBN) - Dhaka stocks gained sharply on Tuesday as investors went for buying stocks following the announcements of sponsors-directors buying shares.
Market operators expect that the rise would continue with more sponsors and directors coming to the market for buying shares to increase their stake in their respective companies to comply with a recent directive of the Securities and Exchange Commission.
The market opened with a positive note, gaining more than 120 points within the first hour. The uptrend continued until the market closure and finally ended 213 points higher.
The benchmark General Index of Dhaka Stock Exchange (DGEN) rose 213.16 points or 4.39 per cent to close at 5,063.11 on the day.
Out of 259 issues traded, 249 advanced, only eight declined while two remained unchanged.
Turnover value increased to BDT 3.27 billion against BDT 1.98 billion in the previous session.
City Bank Limited topped the turnover chart worth BDT 118.21 million changing hands.
Peoples Insurance was the day’s highest gainer posting a rise of 9.94 percent while Reliance one was the worst loser, losing 3.0 percent.
BBN/BB/SI-13Dec11-4:43 pm (BST)
