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Stocks witnessed sharp gain on Sunday as optimistic investors showed their buying spree across the board amid positive expectation.
Marker analyst said that stocks maintained upward trend as the enthusiastic buyers continued their buying appetite on large-cap stocks.
They said the securities regulator’s market supportive measures, Prime Minister’s warning for market manipulators, coupled with National Board of Revenue (NBR) Chairman’s positive remarks continued to cheer up stock prices.
Investors went on bargain hunting with an expectation that the market would turn around following the government moves, said an analyst.
He noted that investors became active on the market for taking fresh position in sector specific stocks considering favourable price level.
The market opened on positive note and the upward trend continued until end of the session with no sign of reversal.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 108 points or 2.04 per cent to settle at 5,394.
Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 31 points to finish at 1,901 and the DSE Shariah Index rose 15.63 points to close at 1,240.
Turnover, another important indicator of the market, also crossed Tk 5.0 billion-mark after nearly two months and amounted to Tk 5.35 billion, which was 12.6 per cent higher than the previous day’s turnover of Tk 4.75 billion.
The gainers took a strong lead over the losers as out of 345 issues traded, 292 advanced, 38 declined and 15 issues remained unchanged on the DSE trading floor.
A total number of 147,668 trades were executed in the day’s trading session with trading volume of 156.60 million securities.
The market capitalisation of the DSE also rose to Tk 3,961 billion on Sunday, from Tk 3,888 billion in the previous session.
Bangladesh Shipping Corporation topped the turnover chart with 3.94 million shares worth nearly Tk 199 million changing hands.
The other turnover leaders were National Tubes, Fortune Shoes, Monno Ceramic and United Power.
Familytex (BD) was the day’s best performer, posting a gain of 10 per cent while Standard Ceramic was the worst loser, losing 7.77 per cent.
The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index – CASPI –soaring 342 points to settle at 16,503 and the Selective Categories Index - CSCX –jumping 205 points to finish at 9,988.
Here too, the gainers beat losers, as 217 issues closed higher, 32 ended lower and 10 remained unchanged on the CSE trading floor.
The port city bourse traded 10.22 million shares and mutual fund units worth Tk 283 million in turnover.