Dhaka, Bangladesh (BBN)- Dhaka stocks rebounded on Tuesday amid volatile trading throughout the session with lower turnover value, as most of the investors adopted ‘wait-and-see’ policy following the pending court issue, market operators said.
The market gained somewhat but the turnover value declined notably, as most of the investors were observing the market situation following the High Court verdict on writs, they added.
The market opened with a positive note, gaining more than 50 points within first half an hour. After that, it witnessed volatility for rest of the session and finally ended 65 points higher.
The benchmark general index of Dhaka Stock Exchange, DGEN, the main gauge of the market, went up by 65.95 points or 1.41 per cent to close at 4,741.93.
The broader All Shares Price Index (DSI) gained 56.22 points or 1.42 percent to 4,019.29. The DSE-20 Index comprising blue chips shares also advanced 17.84 points or 0.49 per cent to close at 3,634.54.
“Investors retained their emotional volatility on the day as the Securities and Exchange Commission (SEC) sat with the stakeholders to decide about the directors who could not make up the 2.0 percent quota,” commented LankaBangla Securities in its regular analysis.
Following the sharp sell off Monday, the Securities and Exchange Commission (SEC) and DSE continued its market monitoring and surveillance efforts during the trading session in a bid to contain aggressive sale pressure.
However, the turnover value decreased to BDT 1.96 billion which was 40.24 percent lower compared to BDT 3.28 billion in the previous session.
Out of 264 issues traded, 216 advanced, 25 declined and 23 remained unchanged.
A total of 38.59 million shares changed hands on the day against 64.21 million in the previous session. The trade deals also decreased to 59,303 against Monday’s 98,570.
The total market capitalization of the DSE stood at BDT 2,537.02 billion against BDT 2,509.83 billion in the previous session.
All the major sectors ended in the green. Textiles and non-banking financial institutions (NBFIs) sectors were the top performing sectors and gained 3.0 percent and 2.83 percent respectively while pharmaceuticals, foods, insurance and tannery were underperforming sectors on the day.
Lafarge Surman Cement topped the turnover chart with shares worth BDT 103.19 million changed hands.
The other turnover leaders were Meghna Petroleum, SIBL, LankaBangla Finance, Square Pharma, Jamuna Oil, Padma Oil, Beximco Limited and GPH Ispat.
BIFC was the day’s highest gainer posting a rise of 9.80 percent followed by FAS Finance, GSP Finance, BD Finance, AB Bank First Mutual Fund, Seventh ICB, Libra Infusion, First Lease Finance, Rahim Textile and RN Spinning.
The day’s worst losers included Meghna Cement, LR Global First Mutual Fund, ICB AMCL First Mutual Fund, ICB AMCL NRB Mutual Fund, MBL First Mutual Fund, Aziz Pipes, Gemini Sea Food, First Bangladesh Fixed Income Fund, Green Delta Insurance and Green Delta Mutual Fund.
BBN/SSR/AD-05June12-9:30 pm (BST)
