Stocks returned to the black yesterday as investors went for buying shares despite a down-to-dusk strike called by BNP.
The DGEN, the yardstick of Dhaka Stock Exchange, went up 87.67 points or 1.75 percent, to finish the day at 5,098.90 points.
Despite still-unresolved political volatility, the market demonstrated an upward move. “The upward move came, primarily from slight improvement in market sentiment, based on resistance of DGEN near 5000 level,” IDLC Investments Ltd said in its daily market commentary.
However, confidence is still low as political violence is depressing investment outlook, while investors are taking a wait-and-see policy with reduced activity, commented IDLC.
All major sectors stood positive. General insurance rose 3.96 percent, life insurance 2.25 percent, banks 2.25 percent, pharmaceuticals 1.81 percent and fuel and power 1.17 percent.
Turnover increased 4.3 percent to Tk 449 crore, compared to the previous day. A total of 1.05 lakh trades were executed where 7.71 crore shares and mutual fund units changed hands on the Dhaka bourse.
Of the total 264 issues that traded on the DSE, 214 advanced and 35 declined. A total of 15 issues remained unchanged.
Jamuna Oil topped the turnover list with 8.21 lakh shares worth Tk 21.78 crore changed hands.
Northern General Insurance Company topped the gainers' list, rising 9.78 percent, while Popular Life Insurance Company was the biggest loser of the day that slumped 25.17 percent.
The Chittagong Stock Exchange also gained yesterday as investors bought shares.
The CSCX, the Selective Categories Index of CSE, advanced 175.05 points, or 1.84 percent, to 9,712.99.
Gainers beat losers 159 to 24 with seven issues remaining unchanged on the port city bourse that traded 91.35 lakh shares and mutual fund units worth Tk 50.63 crore in turnover.