Dhaka stocks gain after three-day fall

December 30, 2014

Dhaka stocks ended positive on Monday after a three-day fall with an increased turnover amid a lacklustre countrywide dawn-to-dusk shutdown enforced by the Bangladesh Nationalist Party-led alliance. The key index of Dhaka Stock Exchange, DSEX, finished at 4,814.16 points, gaining 0.26 per cent or 12.81 points. Turnover at the bourse increased to Tk 189.58 crore on Monday compared with that of Tk 156.74 crore in the previous trading session.
Market operators said that the market on the day finished positive as the general strike enforced by the BNP-led alliance was relatively peaceful.
They said purchasing by a section of investors might have kept the market positive as they were expecting improved political situation within few days.
Besides, a reduced panic selling was another reason for the positive ending on the day, operators said.
A reduced year ending exposure adjustment share sales by institutional investors also kept the market up, they said.
DS30, the blue-chip index of the DSE, finished at 1,780.59 points, adding 0.06 per cent or 1.12 points.
The Shariah index of the bourse, DSES, however, fell by 0.09 per cent, or 1.07 points, to close at 1,136.83 points.
Of the 309 shares and mutual funds traded on the day, 176 advanced, 84 declined and 49 remained unchanged.
‘Today [Monday], as morning optimism faded away in the later part of the session, the DSEX barely closed in green,’ IDLC Investments said in its daily market commentary.
‘Though the turnover remained low at Tk 189.58 crore amid the day-long nationwide hartal, attractive price of fuel, textile and financial stocks spurred interest among the buyers,’ it said.
Lafarge Surma Cement led the turnover leaders on the day with its shares worth Tk 9.70 crore changing hands.
DESCO, MJL Bangladesh, Grameenphone, Beximco Pharma, BRAC Bank, IDLC Finance, Saif Powertec, Square Pharmaceuticals and Agni Systems were among the other turnover leaders.
Prime Islami Life Insurance gained the most on the day with an 8-per cent increase in its share price, while Dulamia Cotton was the worst loser on the day, shedding 6.49 per cent.

-With New Age input

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