Dhaka stocks on Thursday continued with heavy gains for the fourth day as the bourse's president said that the government decision to allow investment of undisclosed money in the stock market would increase liquidity supply in July.
The DGEN, the benchmark general index of the DSE, gained 78.56 points, or 1.30 per cent, to close at 6,117.23 points though the index skidded 38 points in first few minutes of trading. The key index gained 68.18 points or 1.14 per cent on Wednesday.
DSE president Shakil Rizvi at a press conference at the bourse office said that the budgetary measures for the capital market would bring a positive impact and increase liquidity supply.
He thanked the government for allowing investment of undisclosed money in the capital market, along with the treasury bonds, by paying a 10 per cent tax.
Shakil, however, warned that they would remain vigilant so that the market did not become overpriced.
He requested the government to offload shares of profitable state-run companies to increase supply of good shares in the market.
DSE vice-president Ahsanul Islam urged the ruling and opposition parties not to do politics with the capital market.
The DSE wrapped up the week's trading with increased turnover, so far the highest after April 11, as the investors traded heavily for another day.
The day's turnover stood at Tk 954.84 crore, mainly driven by the government decision to allow investment of undisclosed money in the capital market. The turnover was Tk 937.66 crore on Wednesday and it was Tk 1,224.16 crore on April 11.
Of the 259 issues traded, 181 gained, 72 declined and six remained unchanged though most of the share prices went down at the beginning of the trade.
Source : New Age
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