Dhaka, Bangladesh (BBN) - Dhaka stocks witnessed sharp gain on Thursday and key index climbed more than five per cent, a day after the government withdrew of its notification regarding public servants investment in stocks.
After a daylong drama, the government Wednesday night withdrew a notification that asked public servants not to invest in stocks after a few hours due to ‘unavoidable’ circumstances.
Market insiders said that the confusion is over regarding public servants in profit-making activities, including stock business which encouraged the investors to buy shares.
Meanwhile, though the market closed upbeat mood, a section of investors under the banner of the Bangladesh Share Market Investors Unity Council (BSMIUC), a plat form of small investors demonstrated in front of the DSE.
They demanded capital market- friendly monetary policy and withdrawal of National Board of Revenue’s (NBR) recent Statutory Regulatory Order (SRO) regarding undisclosed money.
They also demanded long term steps to stabilize the stock market.
However, traffic movement on the road was normal as additional police was deployed there.
The market opened with a flying note, gaining more than 140 points within five minutes, totally reversed from previous day’s trend. The upbeat mood continued till the market closure and finally ended more than 250 points higher.
The benchmark general index of the Dhaka Stock Exchange, generally known as DGEN, the main gauge of the market went up by 250.92 points or 3.346 percent to close at 4,946.49.
Turnover value stood at BDT 3.21 billion in value terms against BDT 3.16 billion in the previous session.
The gainers took a strong lead over the losers as out of 263 issues traded, 258 advanced, only five declined.
Grameenphone (GP) was the topped turnover chart with shares worth BDT 153.18 million changing hands.
Southeast Bank First Mutual Fund was the day’s highest gainer posting a rise of 10 per cent while Saiham Textile was the day’s worst loser.
BBN/SSR/AD-19Jan12-6:55 pm (BST)
