Stocks rise after CA’s five-point directive

Dhaka stocks rose yesterday after the chief adviser issued a five-point directive to strengthen the capital market, including plans to sell government stakes in state-run and multinational firms. 

The benchmark DSEX index gained 19.27 points, or 0.39 percent, closing at 4,921.55. This marked the second consecutive session of gains, following Thursday's nearly 100-point rally.

The Shariah-compliant DSES index edged up 0.15 percent to 1,075.89, though the blue-chip DS30 index dipped 0.27 percent to 1,815.50. 

During a meeting on market development on Sunday, Chief Adviser Muhammad Yunus issued the five directives.

Those include offloading shares of well-performing state-owned companies and listing them on the stock market as part of efforts to revitalise the capital market.

The measures aim to improve liquidity by increasing the supply of high-quality shares. 

Yesterday, turnover, a key indicator of market activity, dipped slightly to Tk 364.09 crore from Tk 366.06 crore in the previous session.

Of 395 traded stocks, 189 advanced, 160 fell, and 46 held steady. 

Northern Islami Insurance led gainers with a 10 percent surge, while Baraka Power dropped 6 percent to become the session's worst performer.