DSE indices, turnover rise

FE Report Dhaka stocks surged more than one per cent Monday with significant rise in turnover, as the investors went for fresh buying getting available attractive prices of shares. Market analysts said the investors might become hopeful about the market following the news that more sponsorsdirectors are going to buy shares of their respective companies and they (investors) went for fresh buying. The market opened with a positive note and gained more than 85 points within first 45 minutes of trading. The positive momentum continued until the market closure amid moderate ups and downs and finally ended the day 83 points higher. The benchmark general index of Dhaka Stock Exchange-DGEN-gained 1.67 per cent or 83.56 points to close at 5,079.90. The broader DSE All Shares Price Index (DSI) went up by 67.43 points or 1.61 per cent to close at 4,231.46. The DSE-20 blue-chip index also advanced 56.56 points or 1.50 per cent to close at 3,803.96. The turnover value rose sharply almost touching the Tk 3.5-billion mark on the day and stood at Tk 3.47 billion in value terms, up by 65.23 per cent compared to Tk 2.10 billion in the previous session. Mr Akter H Sannamat, a stocks expert and former managing director of Prime Finance and Investment Ltd., said that the investors might gain confidence following sponsorsdirectors announcement of buying shares. However, he said the investors expect more such announcement, as many of them (sponsorsdirectors) yet to express their willingness to buy shares to comply with the regulator's recent directive. "If more sponsorsdirectors announce to buy shares, the investors will get more confidence," commented Mr Sannamat.