Dhaka stocks hit two-month highStaff Correspondent
Dhaka stocks continued to surge on Tuesday, fourth day in a row, with its general index hitting two months high and the turnover crossed Tk 500-crore mark amid investors’ anticipation to see some positive changes ahead.
DGEN, the benchmark general index of Dhaka Stock Exchange, gained 2.07 per cent, or 97.03 points, to close the day at 4,769.50 points. On January 22 the DGEN was at 4,709.91 points.
Turnover of the bourse stood at Tk 575.07 crore on Tuesday from that of Tk 482.60 crore on the day before.
The last time the bourse’s turnover crossed Tk 500-crore mark was on January 9 standing at Tk 538.79 crore.
Market operators said investors remained optimistic following the uptrend of the last few days.
Waiving capital gain tax of the foreign investors and the hope surrounding the new DSE leadership continued boost the investors, they said.
They said the new DSE president’s promise to implement the government announced compensation package also helped investors to regain some confidence.
Some large-scale individual investors and some foreign investors also injected fresh funds to the market.
The finance minister on March 4 announced a 50 per cent waiver on the past year’s margin loan interest and a 20 per cent quota of IPOs for the next two years for small-scale investors who suffered because of the 2011 stock plunge.
Investors were confused as the government announcement was not followed up by any move by the merchant bankers and brokerage houses.
Of the 259 issues traded on Monday, 223 advanced, 29 declined and seven remained unchanged.
Among the major sectors, non-bank financial institutions were the highest beneficiaries, posting 3.27 per cent gains, followed by banks 3.11 per cent, pharmaceuticals 1.44 per cent and power 0.51 per cent.
Telecommunication was the only losing sector on Tuesday that declined by 1.09 per cent.
Beximco Limited topped the turnover chart with its shares worth Tk 26.06 crore changing hands. The other turnover leaders were United Airways, Grameenphone, Summit Power, Jamuna Oil, Keya Cosmetics, Peoples Leasing, Aftab Automobiles, Titas Gas and MI Cements.
comments powered by Disqus