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Stocks closed higher on Thursday, the first trading day of May, with the key index exceeding 5600-mark, as bargain hunters bets on lucrative shares in anticipation of potential turnaround.
Price hike of selective large-cap stocks such as United Power, Grameenphone, Robi, Best Holdings and Power Grid mostly contributed to the market upturn as they jointly accounted for 14 points rise of index at closing.
As a result, DSEX, the Dhaka Stock Exchange (DSE) went up by 31 points or 0.55 per cent to 5,612, at the end of the trading session.
The blue chip index DS30, a group of 30 prominent companies, saw more than 12.55 points higher to 2007 while the DSES Index, which represents Shariah-based companies, gained more than 4.9 points to 1,234 till the end.
The regulatory efforts such as narrowed the scope for individual stocks to the highest 3 per cent instead of 10 per cent in a single-day and tough stance for spreading rumours, help to stop the market erosion, said a leading broker.
Turnover, a crucial indicator of the market, stood at Tk 7.11 billion at the end of trading.
Of the issues traded, 207 advanced, 140 declined and 48 remained unchanged till the end.
The Chittagong Stock Exchange (CSE) also closed high with the CSE All Share Price Index – CASPI –gaining 98 points to 16,051, also at the end of trading.