Stocks bounced back yesterday, after profit booking losses for last three days as investors put funds mainly on large cap stocks.
After rising more than 95 points in the morning, at the end of the day the benchmark DSEX gained 89 points or 1.8% to close at 5,233.
The Shariah index DSES rose 26 points or 2% to 1,233. The comprising blue chips DS30 was up 39 points or 2% to end at 1,972.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, rallied 145 points to 9,823.
Trading activities continued to decline with turnover falling down below Tk600 crore-mark after six weeks. Trading activities improved as the DSE turnover was Tk694 crore, registering an increase of more than 16% over the previous day’s 24-session low.
The investors’ attention remained mostly concentrated on power, engineering and pharma – the sectors that accounted for over 21%, 14% and almost 12% respectively of the day’s total turnover.
“Market reclaimed 5,200-mark as large-cap and mid-cap stocks tuned up and market participants showed some zeal for banking, pharma and power stocks,” said Lanka Bangla Securities.
As per the central bank’s statistics, disbursement of the total industrial term loans during April-June 2014 was higher by 23.47 per cent or Tk1,146 crore compared to Tk928 crore during January-March quarter.
“This indicates growing business activities in economy, which conveyed positive cues to the equity market,” said the leading stock broker.
IDLC Investments said breaking last three sessions’ pessimism, market bounced back amid improved activity.
All the large cap sectors ended in green. Pharmaceuticals posted the highest return of over 2%. Power and banks went up by 1.7% and 1.4% respectively.
Telecommunication, food and allied, and non-banking financial institutions also gained over 1% each.
Gainers took a strong lead over losers as out of 301 issues traded, 227 advanced, 41 declined and 33 remained unchanged on the DSE.
MJL BD was the most traded stock with shares worth over Tk32 crore changing hands, followed by KPCL, Square Pharma, Grameenphone and RSRM Steels.
FAR Chemical was the day’s highest gainer, posting a rise of 10% while EBL NRB Mutual Fund was the day’s worst loser, plunging 9.85%.