DSE turnover crosses Tk 7.0b-mark
Thursday, 30 August 2012
FE Report
Dhaka stocks rose sharply Wednesday and DGEN surged 3.76 per cent with turnover value crossed Tk 7.0 billion mark for the first time in four months, as the investors injected fresh fund spurred by optimism.
The market analysts said the participation of institutional and retail investors increased centring fresh prospects/hope of the World Bank's funding for the Padma Bridge.
The market started with a flying note gaining almost 130 points within 75 minutes and the upbeat trend continued until the closure of the market without any significant reversal and finally ended the day 161 points higher.
The benchmark general index of the Dhaka Stock Exchange (DGEN), the yardstick of the market, went up by 161.56 points or 3.76 per cent to close at 4,453.43.
The broader All Shares Price Index (DSI) gained 136.50 points or 3.75 per cent to 3,768.92. The DSE-20 Index comprising blue chips also advanced 64.76 points or 1.91 per cent to close at 3,448.42.
Mr Akter H Sannamat, managing director and chief executive officer of Union Capital, said the participation of institutional and retail investors increased centring fresh prospects of World Bank funding for the Padma Bridge.
"The investors injected fresh fund as they feel encouraged following increasing value and volume of shares amid optimism that the market is going to be stable," observed Mr Sannamat.
A stock broker said US Ambassador Dan W Mozena's comment over the Padma Bridge funding by the World Bank made many investors optimistic and they went for fresh buying anticipating further rise.
The envoy said US, Japan and India have been working together so that the World Bank withdraws its Padma Bridge funding cancellation decision.
"The investors aggressively bought stocks which have been laggard over the last few sessions," he added.
"The improved turnover value for the last few days boosted the investors' confidence, which inspired them to take fresh position," commented IDLC Investments in its regular analysis.
Besides, positive note on funding issue of Padma Bridge by Dan W Mozena, also helped the market to lift, it added.
The turnover value increased significantly to Tk 7.03 billion, which was 21.20 per cent higher compared to the previous session's Tk 5.80 billion. The market participation also increased by 21.17 per cent from previous session.
Out of 272 issues traded, 245 advanced, 18 declined and nine remained unchanged.
Dhaka stocks rose sharply Wednesday and DGEN surged 3.76 per cent with turnover value crossed Tk 7.0 billion mark for the first time in four months, as the investors injected fresh fund spurred by optimism.
The market analysts said the participation of institutional and retail investors increased centring fresh prospects/hope of the World Bank's funding for the Padma Bridge.
The market started with a flying note gaining almost 130 points within 75 minutes and the upbeat trend continued until the closure of the market without any significant reversal and finally ended the day 161 points higher.
The benchmark general index of the Dhaka Stock Exchange (DGEN), the yardstick of the market, went up by 161.56 points or 3.76 per cent to close at 4,453.43.
The broader All Shares Price Index (DSI) gained 136.50 points or 3.75 per cent to 3,768.92. The DSE-20 Index comprising blue chips also advanced 64.76 points or 1.91 per cent to close at 3,448.42.
Mr Akter H Sannamat, managing director and chief executive officer of Union Capital, said the participation of institutional and retail investors increased centring fresh prospects of World Bank funding for the Padma Bridge.
"The investors injected fresh fund as they feel encouraged following increasing value and volume of shares amid optimism that the market is going to be stable," observed Mr Sannamat.
A stock broker said US Ambassador Dan W Mozena's comment over the Padma Bridge funding by the World Bank made many investors optimistic and they went for fresh buying anticipating further rise.
The envoy said US, Japan and India have been working together so that the World Bank withdraws its Padma Bridge funding cancellation decision.
"The investors aggressively bought stocks which have been laggard over the last few sessions," he added.
"The improved turnover value for the last few days boosted the investors' confidence, which inspired them to take fresh position," commented IDLC Investments in its regular analysis.
Besides, positive note on funding issue of Padma Bridge by Dan W Mozena, also helped the market to lift, it added.
The turnover value increased significantly to Tk 7.03 billion, which was 21.20 per cent higher compared to the previous session's Tk 5.80 billion. The market participation also increased by 21.17 per cent from previous session.
Out of 272 issues traded, 245 advanced, 18 declined and nine remained unchanged.