Dhaka stocks gain after two-day fall
Dhaka stocks advanced on Monday after slight losses in the previous two trading sessions as investors went for buying shares, especially the financial ones.
DSEX, the key index of Dhaka Stock Exchange, advanced by 0.55 per cent, or 30.13 points, to
close at 5,440.94 points on Monday after losing 12 points in the previous two sessions.
The market started gaining from the very beginning of the day and climbed more firmly as the day progressed as investors went for buying financial scrips, market operators said.
The average share prices of banks and non-bank financial institutions added 0.77 per cent and 0.66 per cent respectively.
Out of the 30 traded bank scrips, 20 advanced, just three declined and seven remained unchanged.
Market operators said investors moved to invest as they observed better trend at the market in recent weeks.
The market situation improved following the market intermediaries’ move to stabilise the market after the core index had lost 231 points in September amid political worries ahead of the national elections, they said.
The finance ministry in a recent letter asked the National Board of Revenue to slash tax on capital gains of bourses’ shareholders by 10 per cent to 5 per cent on condition that they would invest the share
sales proceeds in the capital market for three years that also attracted some investors to the market, they said.
The share prices of food, pharmaceuticals and miscellaneous also gained on Monday.
On the other hand, the share prices of telecommunication, cement and engineering dropped by 0.65 per cent, 0.59 per cent and 0.13 per cent respectively.
The turnover on DSE inched down to Tk 801.42 crore on Monday compared with that of Tk 844.80 crore in the previous trading session.
The average share prices of energy, food, textile and engineering sectors also advanced by 2.2 per cent, 1.1 per cent, 0.9 per cent and 0.5 per cent respectively.
Of the 336 companies and mutual funds traded on Sunday, 170 advanced, 112 declined, and 57 remained unchanged.
DS30, the blue-chip index of DSE, also gained 0.39 per cent, or 7.45 points, to close at 1,909.69 points.
Shariah index DSES added 0.55 per cent, or 6.93 points, to finish at 1,264.07 points.
Khulna Power Company led the turnover chart with its shares worth Tk 76.38 crore changing hands.
Dragon Sweater, United Power Generation Company, Olympic Industries, Active Fine Chemicals, Singer Bangladesh, BBS Cables, IFAD Autos, Confidence Cement and Nurani Dyeing were the other turnover leaders.
Appollo Ispat Complex gained the most on the day with a 9.78-per cent increase in its share prices, while Meghna Cement Bangladesh Industrial Finance was the worst loser, shedding 8.92 per cent.
Source: http://www.newagebd.net