FE Report
Dhaka
stocks ended higher for the second session Wednesday while Chittagong
stocks declined again as investors traded shares cautiously.
The
DGEN witnessed volatility in the first three hours before going higher
steadily in the last hour of trading, eventually ended 19 points higher.
Meanwhile,
after the trading session, a section of investors under the banner of
'Bangladesh Share Investors Association' (BSIA), staged demonstration in
front of the Dhaka Stock Exchange (DSE) building for a while, demanding
withdrawal of IPOs with premium.
They
also demanded bank's 15 per cent investments of total liabilities,
immediate implementation of announced stimulus package and resignation
of Securities and Exchange Commission chairman Prof. M Khairul Hossain.
At
the end of the session, DGEN, the benchmark index of the Dhaka Stock
Exchange (DSE) went up by 0.45 per cent or 19.41 points to close at
4,310.67 points.
The
DSE broader All Share Price, DSI also surged by 15.45 points or 0.42
per cent to end at 3,644.06 while the DSE-20 Index including blue chips
shares rose sharply by 59.40 points or 1.72 per cent to close at 3,510
points.
A stock
broker said though the market closed positive, lack of confidence among
the retail investors still persistent amid dismal earnings most of the
listed companies.
"Investors,
bearing unrealized loss in their portfolio due to recent downtrend,
were keen to sell-off their position as continuous falling market broke
their patience level. As a result, positive move of last session was
unable to get second gear," commented IDLC Investments, a leading
merchant bank.
Apparently,
some artificial support worked out at the last moment of day's session
to create some spike to close the market positively, it added.
"The
slow recovery continued for second session with modest gain and most of
the gain was attributable to multinational companies led by BATBC,"
stated LankaBangla Securities, a leading stock broker.
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