Stocks continued to rise for the third consecutive session on Tuesday as a positive sentiment still prevailed after phone conversation between the two paramount leaders.
The benchmark DSEX index rose 37 points or 1% to 3989 while the blue chip index DS30 gained 13 points or 1% to 1404.
The Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, closed at 7828 with a rise of 77 points.
Trading activities also increased as the DSE turnover hit 20-session high at Tk3.9bn, which is 6.2% higher over the previous session.
“Most of the shares poised to extend last week’s advance followed by the quarterly news. With the stable money market situation and expected ending of 60 hours countrywide strike, market is reflecting corporate earnings releases,” said LankaBangla Securities in a market analysis.
It added that the country’s banking sector has been in buy horizon for the last couple of days which is continuing to bid the index higher.
Among the winning sectors, bank and engineering gained market capitalisation by 1.7% and 2.5% respectively.
IDLC Investment said riding on political hopes, market had been maintaining green zone, consecutively. Alongside, investors’ incremental confidence and apparent optimistic market outlook convinced some sideline witty participants.
It said moreover portfolio rebalancing based on recent earnings disclosures existed. In the present market situation, scrip wise swings were practical as 70 out of 284 traded scrips changed by more than 4% of their respective prices.
Among the major sectors, telecommunications suffered most losing 1.3%, following 5.9% and 0.08% gains in the previous two sessions.
All other big sectors closed positive. Banks continued to shine gaining 1.7%, followed by pharmaceuticals 1.2%, power 1.2% and financial institutions 0.2%.
