Dhaka stocks gained for the second day on Tuesday with the increase in investors' participation in the trading as the speculation intensified that the government might allow legalisation of undisclosed money by investing in the capital market, market operators said.
The DGEN, the benchmark index of Dhaka Stock Exchange, advanced by 36.30 points, or 0.61 per cent, to close at 5,970.48 points. The index had gained 92.92 points in the previous day after a marginal fall on Sunday.
Turnover of the bourse, however, dropped to Tk 771.52 crore on Tuesday from Tk 831.91 crore in the previous day.
Market operators said both individual and institutional investors remained active as a number of newspapers reported that the government might finally include a provision in the budget for fiscal 2011-2012 allowing legalisation of undisclosed money invested in the capital market.
Business leaders at a meeting on Sunday had requested the prime minister, Sheikh Hasina, to include the provision and she had assured them that the government would consider the demand.
Last week, the parliamentary standing committee on finance ministry also suggested the finance ministry to include the provision.
A DSE stockbroker said, 'Investors are buying shares as they expect that the market will grow further.'
Out of the 255 issues traded on the day, 191 advanced, 57 declined, and seven remained unchanged.
The stockbroker said bank issues dropped on Tuesday after a jump in share prices in the previous day as investors took profits.
United Commercial Bank topped the turnover leaders on the day with Tk 34.19 crore. Other turnover leaders were Aftab Automobiles, One Bank, MI Cements, LankaBangla Finance, Southeast Bank, Beximco, City Bank, National Bank, and Grameenphone.
Source : New Age
