Stocks perk up
Dhaka stocks rose for a fourth day as investors kept buying yesterday after a nine-week slump.
The Dhaka Stock Exchange benchmark index, DSE General Index, gained 24.03 points, or 0.88 percent, to 2746.19 points. The DSE All Share Price Index increased 19.84 points, 0.85 percent, to 2352.42 points.
Market operators said a price rise in the shares of non-banking financial institutions, insurers, and power, cement and pharmaceuticals companies drove the upward trend.
The market held steady in the last several days as investors seemed to have regained confidence, influenced by the Securities and Exchange Commission's meetings with leading merchant banks and brokerage houses, said an operator.
The capital market regulator's series of meetings with the merchant banks and brokerage houses that began on August 20 will continue this week, said an SEC official.
The SEC separately sat with the managing directors of Dhaka Bank and Investment Corporation of Bangladesh yesterday.
Earlier, the SEC had separate meetings with the managing directors of six merchant banks and four brokerage houses -- AB Bank, Prime Bank, NCC Bank, Shahjalal Bank, Standard Bank, Trust Bank, Union Capital, Multi Securities, Lanka Bangla Securities and Lanka Bangla Finance.
At the meetings, the SEC discussed how confidence could be built again and the liquidity be increased in the market and problems faced by merchant banks and brokerage houses be resolved.
Almost all the securities traded up on the DSE yesterday. Of the 221 traded issues, 175 advanced, 38 declined and eight remained unchanged. A total of 1,77,38,443 shares worth Tk 291.10 crore changed hands on the prime bourse.
Total market capitalisation increased to Tk 95,806.72 crore from the previous day's Tk 95,169.03 crore.
Yesterday's top ten turnover leaders were Titas Gas, Islami Bank, Lanka Bangla Finance, Beximco Pharma, BATBC, AB Bank, ACI, Beximco Limited, Uttara Bank and Keya Cosmetics.
Chittagong stocks also finished higher. The CSE Selective Categories Index rose 69.24 points, or 1.25 percent to 5592.57 points, while the CSE All Share Price Index increased 89.36, or 1.05 percent, to 8586.47 points.
A total of 33,16,341 shares worth Tk 38.32 crore changed hands on the port city bourse. Of the 133 issues traded, 88 advanced, 39 declined and six remained unchanged.
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