Stocks edged higher in high volatile trading on Sunday, extending their gaining streak for the fourth consecutive session.
The benchmark DSEX index ended at 4,256, gaining 15 points or 0.4%, while the blue chip index DS30 added 14 points or 1% to settle at 1,461. The Chittagong Stock Exchange Selective Categories Index, CSCX, gained 46 points to 8,321.
Three days of bullish action in a row suggested that traders are getting much joy taking position between intraday price swings, though market has not negated its trigger sells yet waiting for positive resolution of political dispute, according to Lanka Bangla Securities.
Turnover value at the DSE stood at Tk5bn, which was more than 3.4% lower over the previous session.
“Sector wise swing, coupled with earnings disclosures based movement was showcased in the day’s market sentiment by the investors,” said IDLC Investments.
It said backed by strong turnover, DSEX gained in the foreground of revived hope for an end in political strife following the recent developments in the arena.
The presence of investors increased and profit-taking and cautious trading of investors observed during the day’s session, which contributed to market index remaining up, it said.
The mild correction in the heavy weight banks that lost 0.8% were offset by the gains in other major sectors especially telecommunications which gained 2.4%. It was followed by fuel and power 1.9%, financial institutions 0.8% and pharmaceuticals 0.6%.