Stocks rebounded in the positive terrain on Monday, snapping a three-day sharp fall, as optimistic investors showed their buying appetite on Grameenphone and banking shares.
Analysts said the market backed to the green as investors are taking position in fundamentally strong issues like Grameenphone (GP) and banking shares.
GP, the largest market-cap listed company's share price surged 2.0 per cent to close at Tk 409.50 each. The heavyweight banking sector also gained 0.42 per cent after witnessing sharp fall in three days.
The news of an emergency meeting with top brokers at the Dhaka Stock Exchange (DSE) on Monday evening also made investors hopeful, said a leading broker.
The market opened on positive note and the upward trend sustained until end of the session amid modest volatility.
At the end of the session, DSEX, the benchmark index of the DSE, went up by 18 points or 0.32 per cent to settle at 5,530, after losing 119 points in the past three sessions.
According to International Leasing Securities, continued price correction tempted the bargain hunters to take position on the lucrative price level in different stocks, especially on telecom, bank, power and financial institutions sectors.
The two other indices of the Dhaka bourse also ended higher. The DS30 index, comprising blue chips, advanced 7.81 points to finish at 1980 and DSES (Shariah) index rose 4.49 points to settle at 1,286.
The trading activities also increased to Tk 3.86 billion, which was 9.0 per cent higher than the previous day's three months lowest turnover of Tk 3.54 billion.
A total number of 98,199 trades were executed in the day's trading session with trading volume of 70.65 million securities.
The market cap of DSE also increased to Tk 4138 billion which was Tk 4127 billion in the previous day.
Telecommunication posted the highest gain of 2.0 per cent, followed by banking with 0.42 per cent, power 0.36 per cent and financial institutions 0.18 per cent.
Engineering posted the highest loss of 0.61 per cent, followed by food 0.41 per cent and pharmaceuticals 0.36 per cent.
The gainers took a modest lead over the losers as out of 345 issues traded, 184 closed higher, 111 ended lower and 50 issues remained unchanged on the DSE trading floor.
Singer Bangladesh topped the day's turnover chart with 2.43 million shares worth Tk 468 million changing hands, closely followed by Grameenphone, United Power, BATBC and Monno Ceramic.
Al-Arafah Islami Bank was the day's best performer, posting a gain of 5.50 per cent while Singer Bangladesh was the day's worst loser, shedding 29.11 per cent following its price adjustment after record date.
The port city bourse, the CSE, also rebounded with the CSE All Share Price Index - CASPI - gaining 7.70 points to settle at 16,896 points and the Selective Categories Index - CSCX - advancing 2.50 points to finish at 10,238.
Here too, the gainers beat the losers as 114 issues closed higher, 84 ended lower and 29 remained unchanged.
The port city bourse traded 4.65 million shares and mutual fund units worth nearly Tk 148 million in turnover.
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