Buying spree fuels buoyancy on prime bourse

The Dhaka Stock Exchange (DSE) prime index registered a sharp climb up 2.08 per cent Monday in the biggest single-day gain in past 12 months, in a turnaround from a bearish run of the bourse.      
Market operators said the upturn occurred as investors went into a buying spree amid an ambience of optimism.
DSEX, the prime index of the DSE, soared 99.21 points to close at 4,868.64 on the first day of the last month of the year 2014, after moving so weak in the last couple of sessions.
It happens to be biggest single-day buck up in 2014 since December 3, 2013. On December 3 last year, the DSE benchmark saw 112.80 points or 2.69 per cent gains, before beginning a climb down.
The market made a flying start in securities trading and remained vibrant through the session amid strong buying pressure from the investors, including global fund managers.
Along with index, investor participation also increased on the major bourse and the total turnover amounted to Tk 3.41 billion.
"The stock market witnessed the biggest single-day gain in the past 12 months as the investors went for big buying of heavyweight telecommunications and banking stocks," said an analyst.
IDLC Investments said: "Backed by lucrative prices and expectation on upcoming year-end disclosures, first session of December 2014 was upbeat."
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