Dhaka stocks extended the winning streak for the third consecutive session Sunday, with turnover hitting highest so far this year, as enthusiastic investors showed their buying appetite on sector-wise stocks.
Brokers said the market maintained a positive momentum as investors regained some confidence riding on steps taken by the government to ease the ongoing liquidity crunch.
"The government's recent steps to ease liquidity crunch coupled with upward revision in gross domestic product (GDP) forecast posed a positive impact on investors' mind," said an analyst at a leading brokerage firm, preferring anonymity.
He noted that some investors were also busy rebalancing their portfolio ahead of quarterly financial results and ongoing dividend declaration season.
Following the previous week's biggest gain, the market opened on positive note and key index of the Dhaka bourse rose more than 47 points within first 30 minutes of trading.
However, the index finally ended more than 24 points higher.
DSEX, the core index of the Dhaka Stock Exchange (DSE), settled at 5,865, advancing 24.19 points or 0.41 per cent over the previous session.
"The market witnessed another winning session as investors are expecting positive impact on the capital market following the government's recent positive decisions," commented EBL Securities, a stockbroker, in its regular market analysis.
The two other indices also closed marginally higher with the DS30 index, comprising blue chips, advanced 4.45 points to finish at 2,199 and the DSE Shariah Index (DSES) gained 2.62 points to close at 1,359.
Turnover, the another crucial indicator of the market, crossed Tk 6.0 billion on DSE and stood at Tk 6.22 billion, which was 8.74 per cent higher than the previous day's Tk 5.72 billion.
It was also the highest single-day transaction in more than three months since December 28 last year, when the turnover was Tk 6.28 billion.
According to International Leasing Securities, the market opened on a positive note and ended in the same direction as the hopeful investors showed their buying interest on large-cap stocks, especially from financial institutions, fuel & power, textile and engineering sectors.
"The positive movement continued led by non-bank financial institutions, textile and fuel & power sectors," commented Sheltech Brokerage firm, in an analysis.
Among the major sectors, the non-bank financial institutions posted the highest gain of 2.16 per cent as the sector's large-cap ICB soared 4.28 per cent to close at Tk 150.80 each following its bond issue news.
Fuel & power and engineering sectors also gained 1.69 per cent and 0.86 per cent respectively.
On the other hand, telecommunication posted the highest loss of 0.48 per cent, followed by pharmaceuticals 0.19 per cent, banking 0.15 per cent and food & allied 0.10 per cent.
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