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  • Stocks close higher on optimism
    Stocks close higher on optimism FrontierDesk
    FrontierDesk on Sunday, February 26, 2012
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    Shares prices at the Dhaka Stock Exchange closed higher for the third straight session on Sunday as the key index gained over four percent, posting the highest turnover record since January 9.

    Trading at the country’s premier bourse maintained its uptrend on the first day of the week as optimism generated among the investors following the news of compensation for small investors on Wednesday last.

    The benchmark general index DGEN, the main gauge of the market, went up by 174.71 points or 4.00 percent to close at 4542.53 up from Thursday’s 4,367.81.

    The broader All Shares Price Index (DSI) soared 144.56 points or 3.94 percent to close at 3807.54 points up from Thursday’s 3,662.98. The DSE-20 Index comprising blue-chip shares advanced 85.70 points or 2.40 percent to close at 3649.58 points up from 3,563.88 registered on Thursday.

    The gainers took a strong lead over the losers, as out of 261 issues traded, 248 advanced, only 10 declined and three remained unchanged.

    The turnover value stood at Tk 463.15 crore, which was the highest since January 9 when it totalled Tk 538.79 crore.

    A total of 107.58 million shares changed hands on the day against 79.36 million shares on Thursday. The trade deals also increased to 143842 against Thursday’s 108,614.

    On resumption of the day’s trading at 11:00am, the DGEN continued its uptrend till closing despite few minor dips.

    The total market capitalisation of the DSE stood at Tk 2365.16 billion up from Thursday’s Tk 2,299.05 billion.

    All sectors closed higher on the day, as buying pressure witnessed all across the board as the investors apparently became encouraged to buy shares following the recommendations of the special scheme committee.

    The committee recommended waiver of up to 50 percent interest for small investors against margin loans which would be finalised within a couple of days.

    The committee also suggested allotting 20 per cent shares/units of all initial public offerings (IPOs) to those small investors to be issued between 2012 and 2013.

    Of the listed 30 banks, share prices of all banks except ICB Islamic Bank Limited witnessed gain while shares prices of all the financial institutions, engineering, food and allied, witnessed gains.

    Beximco Limited topped the turnover chart with shares worth Tk 277.70 million changing hands.

    The other turnover leaders were GP, United Air, Beximco Pharma, Lanka Bangla Finance, National Bank Limited, RN Spinning Mills Limited, Titas Gas, One Bank Limited and South East Bank Limited.

    Meanwhile, Chittagong Stock Exchange (CSE) key index - CSCX - gained 295.54 points with a turnover of Tk 57.27 crore. Of the 196 issues traded, 192 advanced, three declined and one remained unchanged.
                               
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