Dhaka stocks witnessed a big jump on Tuesday, the first trading day after a major change in the country鈥檚 political landscape, market operators said.
Prime minister Sheikh Hasina resigned on Monday and fled the country, ending her 15-year rule amid an unprecedented student-led mass uprising against her authoritarian regime.
DSEX, the key index of the Dhaka Stock Exchange, increased by 197.15 points, or 3.77 per cent, to close at 5,426.42 points Tuesday, after losing 104.66 points in the previous session, on Sunday.
The market remained closed on Monday due a general holiday.
Capital market analyst聽Md Musa, a United International University professor, told聽抖阴精品聽that investors felt hopeful as the unrests in the streets came to an end.
鈥榃e have to see where the current situation leads to. There are many things on the market that has to be fixed,鈥� he said.
More than 350 people were killed till Monday amid the student protests against discrimination.
Saiful Islam, president of the DSE Brokerage Association of Bangladesh, said that the market had come down to a very low point in recent weeks as there was no clear direction of the authorities on the market.
鈥楢s the country鈥檚 situation has changed and the unrest on the streets ended, investors are increasing their activities on the buying side,鈥� he said.
On Tuesday, the key index began the session with a jump and continued the positive momentum until the end of the session to conclude in the green zone.
Ashequr Rahman, managing director of Midway Securities, said that one of the main reasons for the market to bounce back was the advancement of blue-chip companies.
The total turnover on the Dhaka bourse also witnessed a jump on the day, posting Tk聽749.99 crore as the total turnover on the day, compared with that of Tk聽207.83 crore in the previous session.
Of the 397 issues traded on Tuesday, 328 advanced, 60 declined and nine remained unchanged.
The DSE Shariah index increased by 32.76 points, or 2.86 per cent, to close at 1,176.6 points on the day.
The DS30 index gained 75.71 points, or 4.07 per cent, to finish at 1,934.74 points.
On the sectoral front, bank issues exerted the highest turnover, followed by the pharmaceutical and food shares.
EBL Securities in its daily commentary said, 鈥楾he indices remained elevated right from the start of Tuesday鈥檚 session as buyers remained predominant across the trading floor, causing most of the scrips to witness price appreciation.鈥�
Trust Bank topped the turnover chart on the day with its shares worth Tk聽48.35 crore changing hands.
Uttara Bank, Agni Systems, Techno Drugs, Square Pharmaceuticals, City Bank, Unilever Consumer Care, British American Tobacco Bangladesh, Sea Pearl Beach Resort & Spa, and Far East Knitting & Dyeing Industries were the other turnover leaders.