Dhaka
stocks returned positive on Tuesday (on March 31) with the turnover of the bourse hitting
four-month high following talks about formation of a forum to sort out the
problems of capital market-related entities that might have attracted
institutional investors to the trading floor.
Turnover
of Dhaka Stock Exchange rose 43.70 per cent to Tk 452.72 crore compared with
that of Tk 314.93 crore in the previous trading session. Tuesday’s turnover was
highest after Tk 513.49 crore in December.
The
key index of the bourse, DSEX, increased at 4,530.48 points, adding 0.47 per
cent or 21.20 points on the day.
The
decision of six capital market and money market associations’ to form Bangladesh
Financial Market Forum to press the regulatory bodies about the entities’
problems might have encouraged institutional investors, who were on the
sideline, to increase their participation on the trading floor, Union Capital
managing director Akhter Hossain Sannamat told New Age.
Investors’
fresh positioning on several scrips and foreign investors’ increased
participation on the trading floor might have kept the market up, he said.
Although
BNP is yet to clear its position regarding city corporation elections,
investors were expecting that the party would finally participate in the polls,
he said.
DS30,
the blue-chip index of DSE, rose by 0.63 per cent, or 10.98 points, to close at
1,728.47 points on the day.
The
Shariah index of the bourse, DSES, rose by 0.58 points, or 6.44 points, to
close at 1,103.13 points.
Of
the 313 shares and mutual funds traded on the day, 123 advanced, 147 declined
and 43 remained unchanged.
‘The
bourse observed an influx of money from the sideline, especially in the Large
Caps in search of safe bets, consolidating a total turnover of Tk 4.5 bn, which
is the highest turnover of the year,’ IDLC Investments said in its daily market
commentary.
‘Broad
market view remained pessimistic as issues advanced (123) were outnumbered by
issues declined (147),’ it said.
‘Nevertheless,
surging Large Caps helped DSEX boost a positive day, with a 21 points gain,’
said IDLC.
‘Although
there was a lot of ups and down movements during the day, incresed
participation of the investors ultimately took the trading session to the green
zone,’ LankaBangla Securities said in its daily market analysis.
MJL
Bangladesh-led the turnover chart on the day as its shares worth Tk 43.95 crore
changed hands.
Grameenphone,
ACI Limited, Khulna Power Company, Lafarge Surma Cement, Shasha Denims, Square
Pharmaceuticals, IFAD Autos, Agni Systems and British American Tobacco
Bangladesh were among other turnover leaders.
First
Bangladesh Fixed Income Fund gained the most on the day as its share prices
rose by 9.26 per cent, while Bangladesh Welding Electrodes was the worst loser,
shedding 4.82 per cent. (Source: New Age, April 1, 2015)