Dhaka, Bangladesh (BBN) – Dhaka stocks extended its gaining streak for the third running sessions Sunday with turnover rise significantly and the market showing a sign of stability, as optimism grew among the investors.
Market operators said that the investors’ confidence boosted up following some positive news taken by the finance ministry and securities regulator last week.
On the other hands, fresh buy proposals of shares of sponsors-directors and corporate declaration of some companies and banks made investors optimistic to the market, they said.
Apart from, continued market monitoring efforts by the Securities and Exchange Commission and the Dhaka stock Exchange to stop aggressive sell pressure also boosted investors’ confidence, they added.
The market shot up more than 50 points within five minutes upon resumption of day’s trading and the upbeat mood continued till the market closure and finally ended more than 174 points higher.
The benchmark general index of Dhaka Stock Exchange (DGEN), the main gauge of the market went up by 174.71 points or 4.0 percent to close at 4,542.53.
The broader All Shares Price Index (DSI) soared 144.65 points or 3.94 percent to close at 3,807.54. The DSE-20 Index comprising blue-chip shares advanced 85.70 points or 2.40 percent to close at 3,649.58.
The gainers took a strong lead over the losers as out of 261 issues traded, 248 advanced, only 10 declined while three remained unchanged.
Turnover value increased significantly and stood at BDT 4.63 billion in value terms, up by 40.30 percent compared to BDT 3.30 billion in the previous session. This was the highest turnover since January 9 when it was recorded at BDT 5.38 billion.
A total of 107.58 million shares changed hands on the day against 79.36 million in the previous session. The trade deals increased to 143,842 against Thursday’s 108,614.
The total market capitalization of the DSE stood at BDT 2,365.16 billion against BDT 2,299.05 billion in the previous session.
All sectors ended in the green on the day as buy pressure witnessed all across the board.
Beximco Limited topped the turnover chart with shares worth BDT 277.70 million changing hands.
The other turnover leaders were GP, United Airways, Beximco Pharma, LankaBangla Finance, National Bank, RN Spinning, Titas Gas, ONE Bank and Southeast Bank.
MI Cement was the day’s highest gainer posting a rise of 9.95 percent while Rupali Insurance was the day’s worst loser and lost 9.05.
BBN/BB/SI-26Feb12-9:40 pm (BST)
