Turnover on Dhaka Stock Exchange crossed Tk 400 crore level yesterday in two months on investors' growing confidence following the announcement of national election date.
The total turnover on the DSE was Tk 433.74 crore yesterday that hit Tk 406 crore on July 21 this year.
Market insiders said investors now feel encouraged to trade, as the national polls date has eroded uncertainty in the country's political arena.
“Declaration of the election date means the democracy is coming back and it is also a positive indicator for the market,” said Sharif Ataur Rahman of SAR Securities.
Apart from this, the global stock market is also re-bouncing from the latest financial turmoil following Lehman Brothers' bankruptcy, he said. “The re-bouncing also put a positive impact on the investors' mind that our stock market would not face any crisis due to the slump in the world market,” Sharif added.
Some insiders, however, said selling pressure ahead of Eid and abnormal price rise especially in mutual funds and some other companies' shares pulled up the turnover.
They also suggested the investors buy securities after analysing the company fundamentals.
The benchmark index of the premier bourse, DSE General Index, rose 18.68 points, or 0.65 percent, to 2857.22 points, while the DSE All Share Price Index gained 15.15 points, or 0.63 percent, to 2411.96 points.
Most of the securities, however, traded down on the DSE. Of the 222 issues traded, 86 advanced, 120 declined and 16 unchanged. A total of 3,51,29,841 shares were traded on the DSE.
Market capitalisation rose to Tk 99,592.53 crore from previous day's Tk 99,100.55 crore.
Titas Gas topped the turnover list with 7,11,550 traded shares worth Tk 35.78 crore.
The day's other turnover leaders were Grameen 1 Scheme 2, ICB 2nd NRB Mutual Fund, Beximco, ACI, AIMS 1st Mutual Fund, Beximco Pharma, Square Textile, Grameen One Mutual Fund and Summit Power.
Chittagong stocks also finished up. The CSE Selective Categories Index increased 15.09 points, or 0.26 percent, to 5670.27 points. The CSE All Share Price Index gained 20.57 points, or 0.23 percent, to 8683.7 points.
A total of 63,71,147 shares worth Tk 56.25 crore changed hands on the port city bourse. Of the 126 traded issues, 58 gained, 65 declined and three remained unchanged.