Stocks rallied for the second session in a row yesterday with the benchmark index DSEX hitting nearly eight-month high and turnover crossing Tk900 crore for the first time this year.
Investors put fresh funds mainly into banks, non-banking financial institutions, telecommunications and cement, making the market buoyant, analysts say.
The Dhaka Stock Exchange benchmark index, DSEX, rose 39 points down to 4,798 -- its highest since February 9 this year.
The Shariah index, DSES, rose 10 points to 1,136. The comprising blue chips DS30 closed at 1,879 with a rise of 21 points or 1.2%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, surged 70 points to 8,934.
The DSE turnover remained vibrant as it stood at Tk966 crore, which is the highest in the last 14 months since July 16 last year and more than 15% higher over the previous session.
The banking issues, the market’s heavyweight sector that remained under pressure for long, bounced to positive return with 1% rise.
Non-banking financial institutions gained 1.6%, with cement and pharmaceuticals 1% each.
Telecommunications posted the highest gain with more than 2% rally, driven by Grameenphone.
Lanka Bangla Securities said Matijheel stocks jumped with trading the day, remaining above 4,800 level as bull raced over following the market with fresh fund.
It said some actively traded stocks, which took a pit stop in previous sessions, have discovered a new high level at the end of trading, following strong buying interest among the investors.
Zenith Investments said market gambled its way higher, thanks to humongous volume that has been rising with each passing day, as more cash was being pumped into stocks for good.
The total turnover volume crossed the Tk900-crore mark as more and more investors are injecting their funds into the market which have recently created a lot of buzz with its ongoing rally.
GP was the most traded stocks with shares worth Tk48.6 crore changing hands, followed by Mobil Jamuna Limited, Beximco Pharmaceuticals, BSRM Steel, Lafarge Surma Cement Ltd Bangladesh, Beximco Ltd, Delta Life Insurance and ACI Formulations.