Stocks gain before polls

Dhaka stocks gained significantly yesterday in the run up to the national polls slated for today.

The latest gains including yesterday's may be traced back to the heightened confidence among the investors who are very optimistic about the post-election market, market operators said.

"The investors are positively expecting a vibrant market under an elected government," said Salahuddin Ahmed Khan, chief executive officer of Dhaka Stock Exchange.

"Besides, the investors are also expecting good corporate declarations in the month of January from the companies that end their financial years in December," he added.

The benchmark index of Dhaka Stock Exchange, DSE General Index, went up 98.45 points, or 3.74 percent to 2,728.6 points. The DSE All Share Price Index also jumped 82.33 points, or 3.78 percent to 2,258.39 points.

The bourse will however remain closed today on the occasion of national polls.

Market looked bullish from the very onset. Within the first 30 minutes, it gained more than 45 points. After that the rate of gain slowed down slightly but it continued to gain for the rest of the day.

By the next 60 minutes it gained about 60 points on the opening index, which by the next another 60 minutes, gained close to 70 points.

In the following 60 minutes, the market gained additional 22 to 23 points. By the end of trading, the DGEN gained more than 98 points over the previous day.

A total of 1,85,94,183 shares worth Tk 290.18 crore changed hands on the premier bourse.

Most securities traded up on the DSE. Of the 231 traded issues, 203 advanced, 19 declined and nine remained unchanged.

Beximco Pharma topped the turnover leaders on the DSE with 19,08,150 traded shares worth Tk 28.69 crore. The other turnover leaders were Summit Power, Titas Gas, National Bank, Grameen Mutual Fund One: Scheme Two, ACI, Beximco, Shinepukur Ceramics, Uttara Bank and ACI Formulations.

Chittagong stocks also recorded a rally. The CSE Selective Categories Index jumped 179.84 points, or 3.35 percent to 5,539.42 points. The CSE All Share Price Index also went up 267.61 points, or 3.25 percent to 8,493.55 points.

A total of 42,55,526 shares worth Tk 51.89 crore changed hands on the Chittagong Stock Exchange. Of the 142 traded securities on the port city bourse, 132 advanced, eight declined and two remain unchanged.

Beximco Pharma topped the turnover leaders on the CSE with 8,00,650 traded shares worth Tk 12.04 crore.