Dhaka stocks advanced on Sunday, the first trading session of the week, with an increased turnover as investors bought shares to avail lower prices of securities after a bearish week. DSEX, the benchmark general index of Dhaka Stock Exchange, gained 1.04 per cent, or 44.23 points, to finish at 4,288.86 points. DS30, the blue-chip index of the bourse, closed at 1,480.86 points, adding 0.94 per cent or 13.80 points.

Market operators said stocks advanced as bargain hunters bought shares after the last week’s fall. Increase in the share prices of large capitalised companies including non-banking financial institutions was the reason for the rise in turnover, they said. The turnover at the DSE increased to Tk 710.08 crore on Sunday from Tk 475.11 crore in the previous trading session. Shares under the NBFI sector gained the most on Sunday.

The government’s move to strengthen law enforcement to tackle the ongoing political violence also prompted investors to increase their participation on the trading floor, said market operators. ‘The market finally returned to green with a 44-point gain in the index after losing 55 points in the last four sessions,’ IDLC Investments said in its daily market commentary.

As the government is intensifying effort to keep law and order, investors hope for a reduction in political volatility and thus some improvement in short-term business outlook, it said. ‘However, activities were still extremely consolidated to a handful of stocks, especially from textile sector,’ it added.
Of the 285 shares and mutual fund traded on Sunday, 169 advanced, 89 declined and 26 remained unchanged.

RN Spinning Mills led the turnover leaders with its shares worth Tk 55.23 crore changing hands on the day. Generation Next Fashions, Tallu Spinning, Golden Son, CMC Kamal, Paramount Textile, Argon Denims, Delta Life Insurance, Lankabangla Finance and Envoy Textiles were also among the top turnover leaders. Tallu Spinning gained the most with a 9.71-per cent rise in its share price, while Samata Leather Complex lost the most, shedding 9.09 per cent.

Source :: The New Age