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| DSE indices, turnover rise |
FE Report
Dhaka stocks extended its gaining streak for the third consecutive sessions Wednesday with significant rise in turnover as investors went for fresh buying.
Market insiders said the news of shares buy by sponsors/directors might bring back stability in the market which encouraged the investors to go for fresh buying.
Meanwhile, six more sponsor/directors of two companies expressed their willingness Wednesday to buy shares at prevailing market price through stock exchange within next 30 working days.
The market opened with a positive note gaining more than 30 points within first hour and the positive momentum continued until the market closure and finally ended the day more than 74 points higher.
The benchmark general index of Dhaka Stock Exchange-DGEN- advanced 74.53 points or 1.46 per cent to close at 5,163.88.
During the last three consecutive sessions, the general index of the DSE gained 3.32 per cent or 167.53 points.
The broader DSE All Shares Price Index (DSI) went up by 62.37 points or 1.47 per cent to close at 4,302.59. The DSE-20 blue-chip index also advanced 51.72 points or 1.35 per cent to close at 3,858.19.
A stock broker commented that the market behaved somewhat stable over the last few sessions, as sponsors/directors of some companies had expressed their willingness to buy shares. Read more Bangladeshi Ipo News
On the other hand, some institutional investors might also be active on the day, he said.
Mr Ahmad Rashid Lali, one of the directors of DSE and managing director of Rashid Investment Services, said the market sentiment is improving gradually and if the sponsors/directors keep their shares buy announcement on to comply with the regulator's directive, the market will most likely be stable.
The turnover value increased significantly and stood at Tk 4.15 billion which was 24.25 per cent higher compared to Tk 3.34 billion in the previous session.
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