Dhaka stocks continued gaining on Thursday after the resumption of trading in the previous day after the Eid-ul-Azha holidays, as investors kept buying shares on the day, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, increased by 82.74 points, or 1.60 per cent, to close at 5,244.12 points on Thursday after gaining 43.57 points in the previous trading session.
The market remained closed from June 14 to June 18 on the occasion of weekly holidays and Eid-ul-Azha, one of the biggest religious festivals of the Muslims.
The key index gained from the beginning of the session and continued on the positive note throughout the day, ultimately finishing in the green territory, market operators said.
With the increase of the investors鈥� participation on the day, the total turnover increased by more than Tk聽200 crore.
The total turnover of the Dhaka bourse on Thursday stood at Tk聽452.94 crore compared with that of Tk聽246.44 crore turnovers in the previous session.
The DSE on the previous session posted its lowest total turnover after February 26, 2023, when it was at Tk 231.41 crore.
Market operators said that the key index was increasing as prices of most of the shares came down to their lowest due to the recent market corrections.
In the past 17 weeks, the DSE moved forward in only three weeks.
Market operators said that the latest subdued market sentiment was due to investors being unhappy with the new budget measures related to the capital market.
The finance minister placed the budget proposal on June 6 before Jatiya Sangsad, in which the minister proposed a capital gains tax on individual investors if their profits exceed Tk 50 lakh.
Many investors also pulled their money out of the market before Eid-ul-Azha, market operators said.
They also mentioned that the current negative mood on the market was also due to growing economic concerns, especially the ongoing decline in the country鈥檚 foreign exchange reserves.
Of the 393 issues traded on Thursday, 288 advanced, 55 declined and 50 remained unchanged.
The DSE Shariah index increased by 24.74 points, or 2.20 per cent, to close at 1,146.05 points on the day.
The DS30 index gained 31.34 points, or 1.69 per cent, to finish at 1,875.47 points.
On the sectoral front, food issues exerted the highest turnover, followed by the pharmaceutical and textile shares.
EBL Securities in its daily commentary said, 鈥楾he market has somewhat recovered from its intense bearish spell, with optimistic investors shifting the market pulse towards buyer dominance by capitalising on oversold issues since the market has undergone prolonged corrections.鈥�
鈥楬owever, cautious investors are still observant in the absence of a major trigger for the market to return to persistent positive momentum,鈥� it added.
Asiatic Laboratories topped the turnover chart on the day with its shares worth Tk聽14.63 crore changing hands.
Linde Bangladesh, Sea Pearl Beach Resort & Spa, Beach Hatchery, Rupali Life Insurance, Far East Knitting & Dyeing Industries, Alif Industries, Unique Hotel & Resorts, Fortune Shoes and Taufika Foods and Lovello Ice-cream were the other turnover leaders.