Dhaka, Bangladesh (BBN) - Dhaka stocks surged for the third running sessions on Tuesday with turnover crossing the BDT 7.50 billion-mark after three months as investors’ confidence boosted up further that led them to take fresh position.
The market shot up more than 70 points within first half an hour and the uptrend continued till the market closure amid moderate ups and down and finally ended more than 75 points higher.
The benchmark general index of the Dhaka Stock Exchange--- (DGEN), the yardstick of the market went up by 75.51 points or 1.55 percent to close at 4,939.00.
Out of 266 issues traded, 139 advanced, 107 declined and 20 remained unchanged.
Turnover value crossed the BDT 7.50 billion mark and stood at BDT 7.52 billion against BDT 6.91 billion in the previous session. This was also the highest turnover since January 4, 2012, when it was recorded BDT 8.07 billion.
"Simultaneously, profit taking and investment positioning are very much apparent in the market, with trading boosted in banking and fuel and power sectors," stated IDLC Investments Limited in its daily market analysis.
Fuel and power sector stocks continued to lead the market rally with increasing strength. Four major fuel and power sector companies dominated the top turnover list.
Bexmico Limited continued top the turnover list with shares worth BDT 362.44 million changing hands.
The other turnover leaders were Titas Gas, GP, Jamuna Oil, United Airways, MJL BD, National Bank, UCBL, Keya Cosmetics, and Sumit Power.
Corporate declaration of Apex Adelchi Footwear was appreciated by the investors. Apex Adelchi Footwear was the second top gainers of the day following their 45 per cent cash dividend declaration for the year 2011.
Kohinoor Chemicals was the day’s highest gainer posting a rise of 9.52 percent while ABB First Mutual Fund was the worst loser.
BBN/SSR/AD-28Mar12-11:50 am (BST)
