Dhaka stocks gain after four days
Thursday, 12 January 2012
FE Report
Dhaka stocks experienced gain Wednesday snapping the four straight sessions' losing streak amid volatile trading, as the optimistic investors returned to buying mood.
The market witnessed choppy trading for the first 45 minutes before moving higher and crossing 5,250 points level. It started to advance steadily after 1pm, as the investors went for fresh buying following previous two days' sharp fall and finally ended more than 65 points higher.
The benchmark general index of the Dhaka Stock Exchange-DGEN, the main gauge of the market, went up by 65.72 points or 1.27 per cent to close at 5,222.25.
Earlier, in the last four consecutive sessions, the benchmark general index of the DSE lost 327.02 points or 5.68 per cent.
The broader DSE All Shares Price Index (DSI) advanced 59.81 points or 1.38 per cent to close at 4,364.85. The DSE-20 blue-chip index also gained 36.93 points or 0.96 per cent to close at 3,862.75.
LankaBangla Securities, one of the leading stock brokers, mentioned in its daily market commentary, "Cement sector had a day end rally as the World Bank Bangladesh chief declared that the WB was going to declare the release of fund for Padma Bridge within a few days."
The US$2.90 billion Padma Bridge project will give a big boost to the country's economic growth and provide support for the ailing foreign exchange reserve.
According to the latest weekly statement by the central bank, LC opening for imports has gone down by 2.03 per cent, it added.
"The continuous flow of sponsors/directors buying declaration over the last couple of days also boosted investors' confidence to some extent," said market insider.
Meanwhile, three more sponsors/directors expressed their willingness Wednesday to buy shares of their respective companies at prevailing market prices within the next 30 working days.
So far, as many as 53 sponsors/directors expressed their willingness to buy shares of their respective companies to comply with the regulator's directive to hold minimum 2.0 per cent stakes in their own firms.
The turnover value stood at Tk 4.06 billion in value terms, almost same as the Tuesday's value of Tk 4.07 billion, indicating that the buyers are yet to start buying shares.
The gainers took a strong lead over the losers, as out of 259 issues traded, 227 advanced, 28 declined and four remained unchanged.
Dhaka stocks experienced gain Wednesday snapping the four straight sessions' losing streak amid volatile trading, as the optimistic investors returned to buying mood.
The market witnessed choppy trading for the first 45 minutes before moving higher and crossing 5,250 points level. It started to advance steadily after 1pm, as the investors went for fresh buying following previous two days' sharp fall and finally ended more than 65 points higher.
The benchmark general index of the Dhaka Stock Exchange-DGEN, the main gauge of the market, went up by 65.72 points or 1.27 per cent to close at 5,222.25.
Earlier, in the last four consecutive sessions, the benchmark general index of the DSE lost 327.02 points or 5.68 per cent.
The broader DSE All Shares Price Index (DSI) advanced 59.81 points or 1.38 per cent to close at 4,364.85. The DSE-20 blue-chip index also gained 36.93 points or 0.96 per cent to close at 3,862.75.
LankaBangla Securities, one of the leading stock brokers, mentioned in its daily market commentary, "Cement sector had a day end rally as the World Bank Bangladesh chief declared that the WB was going to declare the release of fund for Padma Bridge within a few days."
The US$2.90 billion Padma Bridge project will give a big boost to the country's economic growth and provide support for the ailing foreign exchange reserve.
According to the latest weekly statement by the central bank, LC opening for imports has gone down by 2.03 per cent, it added.
"The continuous flow of sponsors/directors buying declaration over the last couple of days also boosted investors' confidence to some extent," said market insider.
Meanwhile, three more sponsors/directors expressed their willingness Wednesday to buy shares of their respective companies at prevailing market prices within the next 30 working days.
So far, as many as 53 sponsors/directors expressed their willingness to buy shares of their respective companies to comply with the regulator's directive to hold minimum 2.0 per cent stakes in their own firms.
The turnover value stood at Tk 4.06 billion in value terms, almost same as the Tuesday's value of Tk 4.07 billion, indicating that the buyers are yet to start buying shares.
The gainers took a strong lead over the losers, as out of 259 issues traded, 227 advanced, 28 declined and four remained unchanged.