Stocks surge after two days of fall
Out of the 384 issues traded at the DSE, 257 advanced, 73 declined, and 54 remained unchanged
After a fall for two days, indices of both stock exchanges in the country surged on Tuesday with an increase in the participation of institutional investors.
On Tuesday, Dhaka Stock Exchange's (DSE) benchmark index DSEX jumped by 79 points or 1.19% to reach 6,771 while the blue-chip index DS30 rose 1.42% to 2,471.
Out of the 384 issues traded at the DSE, 257 advanced, 73 declined, and 54 remained unchanged.
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Port city bourse Chittagong Stock Exchange's (CSE) price index CASPI also jumped by 1% or 197 points to 19,813.
A senior officer of the Bangladesh Securities and Exchange Commission (BSEC) said institutional investors came forward with fresh investment in the downward market which helped to boost the index on Tuesday.
On that day, some banks and insurance companies increased their participation with new investments. The commission is currently working to increase the participation of big investors, he added.
In its daily market review, EBL Securities Limited said equity indices bounced back after a downtrend for the last two days as investors gained hope after the merchant bankers association proposed setting up a fund for strengthening the market.
On Monday, the association requested the stock market regulator to set up a Tk10,000 crore fund through issuing a bond for supporting the share market.
Meanwhile, trading activities increased while participation on the DSE was agile as most investors favoured taking a position in selective issues. As a result, bourses observed increased participation while turnover rose by 50.9% to Tk958 crore.
With 16.8% turnover, the miscellaneous sector contributed the most at the DSE followed by textile and pharmaceuticals on Tuesday.
Beximco Limited dominated the scrip-wise turnover board and contributed 14.1% of the total turnover, followed by Aamra Technology and Dragon Sweater.
Investors took the highest return of 4.6% from the paper sector, followed by IT and cement.
Atlas Bangladesh secured the top position in the gainer table. Its share price rose by 9.93%, followed by Aamra Technology and Alltex Industries.
Paramount Insurance topped the loser list. Its share price fell by 5.9% on that day.
