Peaceful holding of election boosts investors' confidence
Wednesday, 31 December 2008
FE Report
Dhaka stocks ended the last trading day of the year broadly higher Tuesday with the turnover crossing Tk 4.0 billion (400 crore) mark after nearly two and a half months, boosted by the peaceful national polls held the previous day.
Market operators said the peaceful holding of the polls in transition to a democratic system after a gap of nearly two years boosted the investor confidence.
There will be no trading today (Wednesday) due to the year-end bank holiday.
The benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE20 (DS20) blue chip index rose 66.73 points, 50.96 points and 36.99 points to close at 2795.33, 2309.35 and 2328.71 respectively.
'Today's rise is due to the holding of the peaceful national polls, giving a fillip to the investor confidence,' said Mahmudul Bari, deputy general manager of IDLC Finance Limited.
The investors bought the shares on expectation that the peaceful general election would help restore political stability in the country, he added.
With the sharp rise on the day, the benchmark index recovered 210 points in the fourth consecutive session.
The market capitalisation hit Tk 1.04 trillion, the highest since October 1 this year, when it had hit Tk 1.03 trillion. Power and energy, pharmaceutical and IT issues led the gain on the day.
The share price of the BD Online Limited, the second top gainer, rose 15.92 per cent, Summit Power 14.76 per cent, Summit Alliance Port Limited 14.43 per cent, Beximco Synthetic 13.25 per cent, Beximco Pharma 10.69 per cent and Mercantile Bank 8.91 per cent.
Stock prices of the above companies shone on the day as the investors chased the stocks in anticipation that these companies might perform better after formation of the next government.
The BDCOM share price rose by 16.43 per cent to emerge the top gainer of the day.
The total turnover registered more than 48 per cent rise on the day to stand at Tk 4.30 billion against Tk 2.90 billion of Sunday thanks to heavy transactions in Beximco Pharma and Summit Power shares.
Dhaka stocks ended the last trading day of the year broadly higher Tuesday with the turnover crossing Tk 4.0 billion (400 crore) mark after nearly two and a half months, boosted by the peaceful national polls held the previous day.
Market operators said the peaceful holding of the polls in transition to a democratic system after a gap of nearly two years boosted the investor confidence.
There will be no trading today (Wednesday) due to the year-end bank holiday.
The benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE20 (DS20) blue chip index rose 66.73 points, 50.96 points and 36.99 points to close at 2795.33, 2309.35 and 2328.71 respectively.
'Today's rise is due to the holding of the peaceful national polls, giving a fillip to the investor confidence,' said Mahmudul Bari, deputy general manager of IDLC Finance Limited.
The investors bought the shares on expectation that the peaceful general election would help restore political stability in the country, he added.
With the sharp rise on the day, the benchmark index recovered 210 points in the fourth consecutive session.
The market capitalisation hit Tk 1.04 trillion, the highest since October 1 this year, when it had hit Tk 1.03 trillion. Power and energy, pharmaceutical and IT issues led the gain on the day.
The share price of the BD Online Limited, the second top gainer, rose 15.92 per cent, Summit Power 14.76 per cent, Summit Alliance Port Limited 14.43 per cent, Beximco Synthetic 13.25 per cent, Beximco Pharma 10.69 per cent and Mercantile Bank 8.91 per cent.
Stock prices of the above companies shone on the day as the investors chased the stocks in anticipation that these companies might perform better after formation of the next government.
The BDCOM share price rose by 16.43 per cent to emerge the top gainer of the day.
The total turnover registered more than 48 per cent rise on the day to stand at Tk 4.30 billion against Tk 2.90 billion of Sunday thanks to heavy transactions in Beximco Pharma and Summit Power shares.