Stocks ended higher for the third running sessions Sunday with key index of the premier bourse hitting a new high since its inception, riding on rally in large cap stocks.
The market opened with a positive note and the prime index of the Dhaka Stock Exchange --- DSEX --- gained 51 points within first 30 minutes. But rest of the session, it saw minor see-saw, eventually ended 34 points higher.
At the end of the session, the DSEX went up by 34.49 points or 0.73 per cent to close the session at 4,787.66 points --- the highest since its inception in January 27, 2013.
The DSE Shariah Index (DSES) went up by 5.0 points or 0.51 per cent to close at 979.28 points. However, the DS30 index, comprising blue chips lost 0.11 points to close at 1,660.24 points.
The total turnover on the DSE came down to Tk 6.97 billion, registering 18.57 per cent decline over the previous session's turnover value of Tk 8.56 billion.
"The market opened with reiterated uptrend riding on rally in large cap stocks," said LankaBangla Securities, in its daily market analysis.
"Investors poured fresh fund in equity market and index edged up to a new high after rolling out previous week's corrections," the stock broker said.
Amid renewed optimism about the capital market and delayed political confrontation as Jamaat-e-Islami shifted the strike, market turnover amounted to Tk 6.97 billion, said the stock broker.
"Market observed a mixed session Sunday while prime index of the DSE reverted reaching 4,800 points level, sector and scrip wise swings appeared dominant over earning declarations," said IDLC Investments.
"The market outlook is likely to remain positive, owing to increased participation of investors which is an indication that the market is preparing for a long term Bull Run in near future," said Zenith Investments.
The gainers took a modest lead over the losers as out of 292 issues traded, 157 advanced, 115 declined and 20 issues closed unchanged on the DSE floor.
Among the major sectors, the heavy-weight bank and pharmaceuticals sector were up by 1.3 per cent and 1.4 per cent respectively; following strong net profit declaration
NBFIs went up marginally by 0.76 per cent. Fuel & power, telecommunications, and food & allied sectors suffered mild correction with losing 0.61 per cent, 0.46 per cent and 0.09 per cent respectively.
Meanwhile, bank 13 per cent advanced in turnover lagging textile 12 per cent and food & allied 11 per cent behind.
Activities decreased in the major bourse (DSE) where volume and trade were down by 4.06 per cent and 3.82 per cent respectively. A total of 0.154 million trades were executed with 180.01 million shares and mutual fund units trading volume.
The market capitalisation of the DSE stood at Tk 2,886.36 billion against Tk 2,875.71 billion in the previous session.
United Airways dominated the top turnover chart with shares worth Tk 289.98 million changing hands followed by Meghna Petroleum, Appollo Ispat, Square Pharma and Unique Hotel and Resorts.
Al-Haj Textile was also the day's highest gainer, posting a rise of 9.53 per cent while Meghna Condensed Milk was the day's worst losers, slumping by 9.30 per cent.
The Chittagong Stock Exchange (CSE) closed marginally higher, with its Selective Categories Index - CSCX gained 40.04 points to close at 9,407.02 points.
Losers beat gainers 113 to 100, with 16 issues remaining unchanged at the port city bourse that traded 20.86 million shares and mutual fund units, turnover value of Tk 672.62 million.
Source: FE Report
