Stocks finished positive yesterday before a nine-day vacation, beginning from today to celebrate Eid-ul-Fitr.
The market fluctuated in the morning but late buying binge mainly on telecommunication, pharmaceuticals and energy issues has helped close higher.
The benchmark DSEX rose more than 38 points or 0.9% to end at 4,427. The Shariah index gained 11 points or 1% to 1,004. The comprising blue chips DS30 closed at 1,626 with a rise of 24 points or 1.6%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, rose 66 points to 8,387.
Turnover at DSE stood at Tk339-crore mark, an increase of more than 6% over the previous session.
All the major sectors moved up with telecommunication registering a phenomenal gain of over 3%, driven by heavyweight Grameenphone – the lone listed company in the sector.
Pharmaceuticals, power, food and allied, banks and non-banking financial institutions also closed marginally higher.
IDLC Investments said closing session ahead of Eid-ul-Fitre stepped up with investors’ focus on large cap scrips.
“Coupled with improved half-yearly earning disclosures, monetary policy statement, expectations and favorable prices at scrip-level acted as the core catalysts behind upturn.”
Top ten scrips accounted for over 55% of total DSE trading activities.
Grameenphone became the top turnover leader removing Beximco that came second after remaining top position for the sixth consecutive session.
The two were followed by Shahjibazar Power Company, Padma Oil, FAR Chemical, Olympic Industries, Square Pharmaceuticals and Meghna Petroleum.