Dhaka stocks ended higher on Tuesday in volatile trading after a six-day fall on fear of the market trend after closure of the omnibus accounts.
As the indices of the Dhaka Stock Exchange went down to 4,000-point mark, most of the retail and institutional investors became interested to buy shares at lower prices, market operators said.
DSEX, the benchmark general index of the DSE, increased by about 50 points within 10 minuets of trading, but it declined by more than 40 points in the next 50 minuets of trading and then started to increase.
At the end of the session, the DSEX advanced by 1.44 per cent, or 58.12 points, to close at 4,068.40 points.
The DSEX had declined by 294.70 points in the previous six trading sessions after a 273.96-point increase in three weeks. The old benchmark general index of the bourse, DGEN, gained 1.31 per cent, or 54.01 points, to finish at 4,147.29 points.
The DGEN in the previous six trading sessions had lost 303.56 points after a 229.15-point rise in three weeks. DS30, the blue chip index of the DSE, finished at 1,465.47 points, advancing by 1.30 per cent or 18.93 points. DS30 had lost 105.43 points in the previous six trading sessions after a 90.84-point gain in three weeks.
As the recent downtrend pushed the DSEX down to its lowest point, investors bought shares to avail lower prices of securities in anticipation that the market may not fall further, a stockbroker said.
The turnover of the bourse declined to Tk 266.47 crore from that of Tk 315.45 crore in the previous trading session. Textiles and fuel and power sectors gained 2.66 per cent and 2.06 per cent respectively. Of the 267 issues traded on the day, 211 advanced, 34 declined, and 22 remained unchanged.
Summit Purbanchol Power Company Ltd, a newly-listed company, topped the turnover chart with its shares worth Tk 22.49 crore changing hands.
Argon Denims Ltd, another newly-listed company, led the gainers’ list as its share price went up by 12.16 per cent. FAS Finance and Investment Ltd lost the most on the day — 6.49 per cent.
Source :: New Age
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