DSE rises as investors park fresh money in stocks

Stocks rose 3.98 percent yesterday, the highest in the last two weeks, as investors used low prices as an opportunity to buy shares.
The benchmark General Index, DGEN, the indicator of Dhaka Stock Exchange, closed at 4,523.71 pints, after gaining 173.24 points.
“Investors started to buy shares in signs of stability in the markets,” said Md Moniruzzaman, managing director of IDLC Investment Ltd.
The market was flat in the last couple of days, which encouraged investors to buy shares, said Moniruzzaman.
Dhaka stocks inched up on the news that the National Board of Revenue had reintroduced a 10 percent tax rebate for stock investors, Lankabangla Securities said in its daily market commentary.
The market was buoyant as the political demonstration on March 12 passed off relatively peacefully, the stockbroker said.
“As political tensions eased for the moment, investors demonstrated an upbeat sentiment regarding investment scenario,” IDLC Investment said in its daily market analysis.
Turnover advanced 121.1 percent -- almost double -- compared to the previous day. A total of 1.02 lakh trades were executed, generating a turnover of Tk 316 crore with 6.92 crore shares and mutual fund units changed hands on Dhaka bourse.
All the major sectors closed higher yesterday. Non-bank financial institutions gained 5.73 percent, the highest in all sectors on the DSE.