DSEX crosses 4,400-mark

Stocks witnessed yet another big gain Monday, with turnover keeping its increasing trend as investors continued to pour fresh funds into the stocks amid optimism.
Market insiders attributed the current positive market trend to investors' growing confidence following the regulator's latest move coupled with interest rate cut on savings instruments, budgetary expectations and government's high ups recent comments on stock market.
The market opened higher and remained vibrant throughout the session amid strong buying pressure from the investors, including global fund managers, brokers said.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), crossed the 4,400-mark after 6-week and ended at 4,407.42 points, soaring 91.43 points or 2.11 per cent.
The two other indices -- DS30 index, comprising blue chips, and DSES index also saw steep gains. DS30 rose 35.64 points or 2.18 per cent to close at 1,665.84 points while the DSES gained 18.24 points or 1.73 per cent to end at 1,069.67 points.
Daily turnover value jumped to Tk 7.53 billion, registering an increase of 6.1 per cent over the previous session's Tk 7.10 billion. It was also the highest turnover since Tk 7.53 billion recorded on November 16, last year.
"A gradual increase in investors' confidence, helped the market turnover to hit fresh high," said an analyst adding that the heavyweight stocks extended their rally further with increased buying interest.
Investors' confidence remained high, evidenced by sustainable increase in participation in terms of turnover in last few sessions, he said. With this, DSE turnover crossed Tk 7.0 billion-mark for the second consecutive sessions in 2015.
IDLC Investments, a merchant bank, said, "As political worries sedated for now and impact of the unrest on earnings materialised, investors were looking forward to exploiting recovery expectation and over reaction of the market in past".
The merchant bank noted, with gradual revival of investors' sentiment and bountiful supply of fresh fund in the bourse, market resumed in up-trend after 4-session of consolidation.
"Investors increased participation coupled with growing optimism caused the stock market exhibit a shining session," International Leasing Securities, a stock broker, in an analysis.
In spite of the mixed corporate declaration, the market soar its high amid the positive expectation regarding the performance of forthcoming quarter, which is free from major political instability, said the International Leasing.
The market turnover also witnessed its new height, riding on the continued gaining streak and interest rate cut on national savings certificate, it added.
LankaBangla Securities, a stock broker, said, "Index refurbished its upward movement after passing few days of consolidation backed by banking stocks".
Market turnover is continuing to hit the higher high amid quarterly earnings season, which is conveying positives to the investors' mind, said the stock broker.
All large-cap sectors appreciated except food and allied which closed flat with 0.13 per cent loss.
Banks saw the highest gain of 2.95 per cent. NBFIs also moved up 1.46 per cent. Telecommunication went up by 2.08 per cent. Cement and pharma gained 1.94 per cent and 1.21 per cent higher respectively. Power closed flat in green.
Gainers took a strong lead over the losers as out of 309 issues traded, 251 advanced, 45 declined and 13 remained unchanged on the DSE floor.
Activities increased in the major bourse where volume and trade were up by 31.87 per cent and 11.71 per cent respectively. A total number of 0.167 million trades were executed with trading volume of 202.78 million securities.
The total market capitalisation on DSE stood at Tk 3,145.60 billion against Tk 3,103.45 billion in the previous session.
Khulna Power Company Ltd was the day's top turnover chart with shares worth Tk 339.47 million changing hands followed by United Power, BSCCL, Beximco and SPPCL.
Singer Bangladesh was the day's best performer, positing a rise of 9.90 per cent while CMC Kamal was the day's worst loser, plunging by 9.32 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index - CSCX - gained 150.08 points to close at 8,304.38 points.
Gainers beat losers 179 to 47, with 9 issues remaining unchanged at the port city bourse that traded 21.39 million shares and mutual fund units, turnover value of Tk 609 million.
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