Stocks rose marginally yesterday amid thin participation of investors as political tension ran deep in the capital.
The benchmark General Index, DGEN, the gauge of Dhaka Stock Exchange, closed at 4,350.47 points, after adding 32.55 points or 0.75 percent.
“It is the best time for long-term investors to buy shares,” said Rakibur Rahman, former president of DSE.
Rahman advised institutional investors to act like professional investors as small investors are likely to follow them to make investment decisions.
“Dhaka stocks inched up on the news that NBR (National Board of Revenue) has reintroduced a 10 percent tax rebate for stock investors,” LankaBangla Securities said in its daily market commentary.
But the ongoing political uncertainty dampened investor spirits, the stockbroker said.
The main opposition Bangladesh Nationalist Party and its allies organised a rally, while the government took a tough stance against mass protests.
Turnover gained 11.9 percent, compared to the previous day. A total of 0.47 lakh trades were executed, generating a turnover of Tk 142 core with 2.94 crore shares and mutual fund units changing hands on Dhaka bourse.
Of the 249 issues that traded on the bourse, 195 advanced, 42 declined and 12 remained unchanged.
All major sectors closed higher yesterday. The power sector advanced 2.23 percent, pharmaceuticals 1.01 percent, banks 0.16 percent, non-bank financial institutions 0.76 percent and telecoms 0.52 percent respectively.
Beximco topped the turnover table with 9.53 lakh shares worth Tk 9.16 crore changing hands.
Central Insurance was the biggest gainer of the day as it rose 7.52 percent. LankaBangla Finance was the worst loser, slumping by 21.92 percent.
The Chittagong Stock Exchange also gained yesterday. The Selective Categaories Index of CSE gained 0.7 percent or 55.94 points, to end the day at 8,039.03.