FE Report
Stocks ended higher for the second running session Tuesday with turnover crossing Tk 3.0 billion-mark as investors reacted positively on time extension of margin loan ratio and relaxed loan condition for the re-finance scheme.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,526.94 points, gaining 34.96 points or 0.77 per cent after four hour trading.
The other two indices also ended higher. The DS30, comprising blue chips gained 14.97 points or 0.93 per cent to close at 1,618.50 points. The DSE Index (DSES) went up by 11.63 points or 1.19 per cent to close at 987.59 points.
The total turnover on DSE crossed Tk 3.0 billion after three consecutive sluggish sessions and hit 7-session high value of Tk 3.15 billion; registering 9.8 per cent increase over the previous session's Tk 2.87 billion.
"The investors' reacted positively on time extension of the margin loan ratio up to 30 September 2014 as well as the regulator's initiative to relax loan condition for the re-finance scheme," commented International Leasing Securities, in its regulator market analysis.
"Market has moved sharply higher in early trading, adding to the modest gains posted in the previous session. Large cap stocks have climbed firmly into positive territory, with the benchmark index DSEX reaching its best intraday level in almost a month," said LankaBangla Securities.
"The early strength of DSE is partly due to optimism that Bangladesh Securities Exchange Commission (BSEC) has decided to give provision of six more months to merchant banks and brokers to restructure client's margin account to recover the losses on investment," said the stock broker.
"Large Caps dominated the movements of bourse, during the day's session. Backed by their support, DSEX went up by 35 points," said IDLC Investments.
Meanwhile, as other Cap classes demonstrated strong volatility, investors seemed to adjust their positions across stocks and sectors, said the merchant bank.
Since the market spiked up after a long lackluster trading, participants remained largely watchful, this session. Consequently, turnover improved slightly and crossed Tk 3.0 billion after three sessions, the merchant bank added.
The port city bourse --- the Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX gained 49.78 points to close at 8,753.92 points.
Gainers beat losers 111 to 82, with 27 issues remaining unchanged at the port city bourse that traded 6.53 million shares and mutual fund units, turnover value of Tk 280.50 million.
