Dhaka, Bangladesh (BBN)- Dhaka stocks gained sharply moving up 1.0 percent on Monday with the benchmark index crossing 7000-mark for the first time as investors continued to bet on non-marginable securities, market operators said.
News of a writ petition filed by two investors challenging securities regulator's recent directive on net asset value (NAV)-based credit disbursement calculation and suspension of netting facilities of non-marginable securities encouraged theinvestors to take fresh aggressive positions, they added.
The High Court issued a three-month stay order on Securities and Exchange Commission's directive on NAV-based credit disbursement calculation and suspension of netting facilities of non-marginable securities.
After opening strongly, the DSE General Index (DGEN) rose 67.57 points or 0.97 per cent to hit a fresh high of 7026.26 beating the previous day's record of 6958.69.
The broader DSE All Shares Price Index (DSI) shot up by 52.89 points or 0.90 per cent to 5885. The DSE-20 blue chip index rose 13.63 points or 0.33 per cent to 4137.
Trading activity got momentum as turnover soared to two month high to stand at Tk 22.56 billion, which was up by 18.09 per cent over the previous session.
Gainers outshined losers as out of 253 issues traded, 157 closed positive, 92 declined and four remained unchanged.
BBN/SI/ANS-28Sept10-10:13 am (BST)