BSS, Dhaka :
Stock markets recovered at week’s close as investors pinned hope on new settlement that would be implemented in mid April to increase fund flow to stock market.
Dhaka Stock Exchange (DSE) authorities last week decided to introduce T+2 trading cycle on April 16 to replace the current T+3 settlement procedure.
The new trading cycle would allow sellers and buyers settle their transactions within two days after the trading day instead of existing three days. As a result, cash flow into the market would increase, giving investors additional financial capacity for faster re-investment.
Some stockbrokers said investors took a few days to understand the benefit of the new settlement and a result DSE trading did not reflect any positive response to the settlement rule in the offing.
All the indices fell at the beginning of the week on Sunday and remained in bear territory in the three out of four trading sessions of the week. Market remained closed on Monday on occasion of the 94th birth anniversary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
The indices, however, recovered on Thursday when investors were active in buying shares of the companies those became cheaper in profit-taking selling in the past few trading sessions.
DSEX, the general index of DSE, eased up by 39.91 points or 0.88 percent to finish the week at 4558.93 when the blue-chip DS30 inched up by 11.06 points or 0.68 percent to 1635.37 and the Shariah DSES index recovered by 5.77 points or 0.58 percent to 989.47.
Daily transactions that saw ups and downs in the four trading sessions remained at a low level at the week’s close on cautious transaction when 5.31 crore shares worth Taka 277.65 crore changed hands.
The number of advanced issues rose significantly to 195 when 65 issues incurred losses and 31 remained unchanged.
Four issues from engineering sector were among the day’s top ten gaining issues besides the issues from food, banking, financial institution, insurance and pharmaceuticals sectors.
The top 10 lagging issues were also included engineering, food, financial institution and food besides cement sectors.
