Stocks gained for the second session in a row yesterday with the higher volume of trade.
The market opened with the same enthusiasm like previous session fueled by the central bank’s easing capital market exposure of banks, but the enthusiasm subdued as days wore on.
The benchmark index DSEX rose almost 15 points or 0.4% to 4,593.
The Shariah index DSES inched 3 points higher to 1,104. The blue chip comprising index DS30 settled at 1,744, moving up 10 points or 0.7%.
The Chittagong Stock Exchange Selective Category Index CSCX soared 9 points to 8,516.
Trading activities increased as the DSE turnover crossed Tk500 crore after 11 sessions. Gainers outpaced losers as out of 320 issues traded, 149 advanced, 126 declined and 45 remained unchanged.
Almost all the sectors closed positive with the cement sector leading the way gaining 1.7%, followed by power almost 1%.
Other sectors, including pharmaceuticals, non-banking financial institutions, food and allied, and telecommunications ended marginally higher.
On Sunday, Bangladesh Bank excluded banks’ equity investment in its stock market subsidiaries from the calculation of the banks’ capital market exposure.
IDLC Investments said spur from relaxation of banks’ capital market exposure rule helped the session start in a positive tone.
Pessimistic investors, however, leveled the rise in indices, pondering on the underlying fundamentals of the market, it said.
Lanka Bangla Securities said the market fluctuated over the course of the trading session, but largely maintained a positive bias and managed to end the day higher.
“The higher close DSEX was partly due to bargain hunting after the steep drop seen over the past two weeks, which pulled the benchmark index down to its short term support level 4520.”
