Dhaka stocks surge for 4th day

Dhaka stocks surged on Tuesday amid a strong participation of institutional and big individual investors after the Monday�s national polls, market operators said.
The general index of Dhaka Stock Exchange gained 66.73 points, or 2.45 per cent, to close at 2795.34, while its blue chips index, DSE20, advanced by 36.99 points, or 1.61 per cent, to finish at 2328.71.
A merchant bank official said the market witnessed a strong participation of institutional and retail investors, expecting a healthy return in days to come. The Monday�s national polls lifted the investors� confidence level, he said.
The institutional investors, who already had completed their year-end loan adjustments, also started to inject funds into the market, signalling a recoup, he added.
With the Tuesday�s rise, Dhaka stocks posted gain for the fourth consecutive trading days.
Stock market analysts said the market got back pace in the last week as investors bought shares availing themselves of the lower prices of the securities after a two-and-a-half-month lull.
The DSE turnover increased to Tk 430.95 crore on Tuesday from the Sunday�s Tk 290.18 crore. The market indicator crossed Tk 400-crore mark for the first time since October 21.
Trading at the Dhaka and Chittagong bourses remained closed Monday due to the 9th parliamentary elections. The bourses will remain closed today due to a bank holiday.
Of the total 230 issues traded on Tuesday, 175 advanced, 50 declined and five remained unchanged.
Beximco Pharmaceuticals topped the turnover leaders with a total transaction of Tk 43.46 crore. Summit Power was the second biggest turnover leader with Tk 39.27 crore.
Titas Gas, Beximco, Shinepukur Ceramics, Grameen Two Mutual Fund, National Bank, ACI, ACI Formulations, and Uttara Bank were the rest of the day�s top 10 turnover leader.
The day also saw a significant rise in share prices at the Chittagong Stock Exchange.
The CSE selective categories index gained 141.16 points, or 2.55 per cent, to close at 5680.59, while its blue chips index, CSE30, advanced by 132.69 points, or 1.78 per cent, to finish at 7566.95.
Of the total 139 issues traded on the CSE floor, 107 posted gains, 30 dropped and two remained unchanged.
Turnover at the CSE went up to Tk 59.94 crore from the Sunday�s Tk 51.90 crore.