Dhaka stocks surge on strong buying support
Friday, 19 December 2008
FE Report
Dhaka stocks surged Thursday, led by power and energy issues, on strong buying support from the retail investors.
Trading at the Dhaka Stock Exchange (DSE) opened on a higher note from the very outset. Before shedding a few points just in the final minutes of the trade, the main index climbed over 46 points.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE20 Index (DS20) comprising blue chips gained 37.40 points, 32.51 points and 17.49 points to close at 2518.02, 2083.99 and 2082.36 respectively.
The market moved into the positive territory after three days of consecutive fall as the investors particularly retail ones buoyed up by the pro-election environment chased the stocks on the day to get a good return in future, according to the market operators.
The day's total turnover increased to Tk 1.82 billion against the previous day's Tk 1.09 billion. The market capitalisation rose to Tk 964.75 billion from Tk 953.51 billion on Wednesday.
"Prevailing affable situation following lifting of emergency and the pro-election atmosphere have helped back the investors' confidence which was badly shattered by the long bearish spell," said Zahirul Islam, chairman of the Prilink Securties Limited.
The retail investors dominated the market today (Thursday) while the institutional investors, considered the major market player, might put in their full effort after year-end loan adjustment, he added.
On December 17, the caretaker government has lifted the state of emergency, imposed January 11 last year in the wake of political turmoil.
Share prices of the Summit Power rose 7.06 per cent to close at Tk 761.75 per share, making it the day's top turnover leader with shares worth Tk 210.96 million traded on the day.
Dhaka stocks surged Thursday, led by power and energy issues, on strong buying support from the retail investors.
Trading at the Dhaka Stock Exchange (DSE) opened on a higher note from the very outset. Before shedding a few points just in the final minutes of the trade, the main index climbed over 46 points.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE20 Index (DS20) comprising blue chips gained 37.40 points, 32.51 points and 17.49 points to close at 2518.02, 2083.99 and 2082.36 respectively.
The market moved into the positive territory after three days of consecutive fall as the investors particularly retail ones buoyed up by the pro-election environment chased the stocks on the day to get a good return in future, according to the market operators.
The day's total turnover increased to Tk 1.82 billion against the previous day's Tk 1.09 billion. The market capitalisation rose to Tk 964.75 billion from Tk 953.51 billion on Wednesday.
"Prevailing affable situation following lifting of emergency and the pro-election atmosphere have helped back the investors' confidence which was badly shattered by the long bearish spell," said Zahirul Islam, chairman of the Prilink Securties Limited.
The retail investors dominated the market today (Thursday) while the institutional investors, considered the major market player, might put in their full effort after year-end loan adjustment, he added.
On December 17, the caretaker government has lifted the state of emergency, imposed January 11 last year in the wake of political turmoil.
Share prices of the Summit Power rose 7.06 per cent to close at Tk 761.75 per share, making it the day's top turnover leader with shares worth Tk 210.96 million traded on the day.