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Market supportive measures jack stock prices up

FE Report | Published: October 16, 2019 10:51:16


Dhaka bourse closed the Tuesday's session with a sharp rise in broad index breaking the losing streak of six consecutive sessions following investors' optimistic participation.

After losing 226 points in last six sessions, the DSEX, the broad index of Dhaka Stock Exchange (DSE), gained 110 points in a single session on Tuesday.

All sectors of listed securities witnessed price appreciation on the premier bourse DSE.

The insiders said the market bounced back following the news on some market supportive measures taken by the central bank and the state-run Investment Corporation of Bangladesh (ICB).

On Monday, the ICB made the announcement of injecting Tk 2.0 billion into the capital market.

On the day, the Bangladesh Bank (BB) also disbursed Tk 500 million to City Bank as temporary liquidity support. The bank will inject the fund into capital market.

The market opened the day's session positively and the broad index continued its upward trend for half an hour.

Later, the DSEX witnessed a marginal correction but another recovery stance pulled the DSEX which closed the session with a sharp rise.

On Tuesday, a group of investors staged demonstration in front of the DSE demanding some reforms and market supportive measures.

They also distributed leaflets containing the demand of resignation of BSEC chairman and a commissioner.

Asked, a senior official of the securities regulator said a quarter might has influenced these investors to stage demonstration.

At the end of the session, the DSE broad index DSEX settled at 4821.64 points with a rise of 2.34 per cent or 110.33 points.

The shariah based index DSES rose 2.57 per cent or 27.87 points to close at 1109.67 points.

The DS30 index comprising blue chip securities advanced 2.04 per cent or 34.22 points to close at 1704.12 points.

According to International Leasing Securities, the opportunist investors revealed their buying interest riding on some market supportive news.

mufazzal.fe@gmail.com

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