Stocks rebounded strongly yesterday after ending flat in the previous session, supported by mainly rally in small cap scrips.
After a tepid opening, the market picked up pace as trading progressed and the momentum continued at close. The benchmark index DSEX surged more than 56 points or 1% to close at 4,562, recovering from its one-month low.
Shariah Index DSES was slightly up almost 8 points or 0.8% to 1,010. The blue-chip comprising DS30 gained 21 points or 1% to 1,669. Chittagong Stock Exchange Selective Category Index, CSCX, closed at 8,781 with a rise of over 108 points.
Trading activities increased with DSE turnover hitting Tk448 crore, which is 21.7% higher from the previous session.
All the major sectors ended in green zone with non-life and life insurance leading the gaining ladder by 3.6% and 3% respectively.
Food and allied followed next with almost 2% rise, driven by BATBC that rallied 2% following its first quarter earning declaration.
Non-banking financial institutions, pharmaceuticals, telecommunications, banks and power edged higher.
Grameenphone, the country’s top mobile phone operator, rose nearly 1% and remained the most traded stock for the second consecutive session, contributing 11% of the total market turnover.
The telecom company disclosed its first quarter results that increased slightly from a year earlier.
Lanka Bangla Securities, in its daily market analysis, said market continued positive momentum for yet another session with mixed economic news and strong inflow of foreign fund.
It said market participants might be eyeing the pre-budget meeting; if it is conducive to market expectation then growth will be back on agenda and will have consistency on policy front.
IDLC Investments said index made strong turnaround, after reaching psychological support level of 4,500 points.
Zenith Investments said Dhaka bourse ended the day on a firm note, bucking the downtrend of last week with upbeat sentiment of investors. “Overall, investors were in a jolly mood, and went on full buying spree.”
Grameenphone continued to top turnover leader with shares worth Tk49 crore changing hands, followed by Heidelberg Cement, Meghna Petroleum, Olympic Industries, Emerald Oil Industries, United Commercial Bank and Matin Spinning.