Stocks traded on the Dhaka Stock Exchange (DSE) posted substantial gain on Tuesday as investors shook off the worries on a high court show cause notice regarding directors’ compulsory share purchase.

“Market moved up as investors did not pay heed to the possibility of directors’ getting relief from buying at least two percent shares of their respective firms,” said a stock broker.

At the end of the day, the benchmark DGEN General Index of the DSE ended at 5,214 points, gaining 115 points or 2.25per cent.

On the issue of the writ, SEC-supportive stance of Attorney General boosted up investors’ confidence, said IDLC in its regular market commentary. As sentiment went up, market observed a surge in fresh fund injection, pushing turnover up by 35 percent above previous day's value, it added.

In this vibrant scenario, stocks with potential director purchases remained buoyant. Meanwhile, fuel and power sector continues its rally, largely driven by high trade volume of state owned companies, it added.

Grameenphone got a boost as a proposal of SIM (Subscriber Identity Module) tax reduction by the Association of Mobile Telecom Operators of Bangladesh, made investors optimistic.

Day’s uptrend was visible throughout the session, starting with a 70 points surge in first 5 minutes, and followed by rally across all sector, pushing the key market index above 5,200 points level.

The broader DSE All Shares Price Index, DSI, also climbed 99 points or 2.17 per cent to 4,373 points while the DSE-20 index of blue-chip shares gained 56 points or 1.49 per cent to 3,816.

Single day turnover value posted significant rise to stand at Tk 9.29 billion, up by 35 per cent compared to Tk 6.89 billion in the previous session.

Gainers beat losers as out of 259 issues traded, 220 advanced, 31 and eight remained unchanged.

Grameenphone topped the turnover chart with shares worth Tk 766.99 million changing hands followed by Titas Gas, Beximco Limited, Aftab Automobiles, Jamuna Oil, MI Cement, Summit Power, Lafarge Surma Cement, Olympic and Meghna Petroleum.

Tallu Spinning was the day’s highest gainer posting a rise of 9.97 per cent while Trust Bank was the session’s worst loser.

The Daily Sun/Bangladesh/ 11th April 2012