DSEX crosses 4,500-mark again

Stocks ended higher for the second consecutive session Sunday with improved activities as most of the investors went for buying spree on large-cap stocks amid optimism.
The investors went for buying binge from the very beginning of the trading session defying prevailing political unrest and the positive vibe sustained throughout the session.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) crossed the 4,500-mark again and ended at 4,533.21 points, surging 65.19 points or 1.45 per cent.
The two other indices also closed higher. The DS30 index, comprising blue chips soared 34.39 points or 2.03 per cent to close at 1,721.06 points. The DSE Shariah Index (DSES) rose 23.26 points or 2.15 per cent to close at 1,104.75 points.
The total turnover on the DSE crossed Tk 2.50 billion-mark and amounted to Tk 2.68 billion, registering an increase of 60.96 per cent over the previous session's two and a half months lowest value of Tk 1.66 billion.
The investors' attention was mostly focused on pharma, engineering and power - the sectors that accounted for 19.2 per cent, 16.5 per cent and 14.6 per cent of the day's total turnover respectively.
"Market predictably rebounded with strengthening possibilities of major opposition's taking part in city corporation elections and expected consequent withdrawal of economy hurting blockades and strikes," said IDLC Investments, in its daily market analysis.
"As the positive anticipation formed over the weekend, participants were upbeat from the maiden moment and quickly started taking positions. Resultantly, index soared with another push in later hours, said the merchant bank.
However, it hasn't attracted substantial turnover, yet, which amounted to Tk 2.68 billion after the day end.
"The market ended in positive note for the second running sessions amidst increased optimism from the investors," said International Leasing Securities.
"Most of the issues witnessed price appreciation as recent bearish spell naturally created some scope for undervaluation, upon which investors might have started to take position," said the International Leasing.
Meanwhile, price surge in several large-cap stocks mainly from cement and power sectors helped to raise the indices, it added.
LankaBangla Securities said: "Market started off the week very positively, following a steep correction in last week. The benchmark DSEX index started moving up from the very beginning of the trading session and closed at the day's high".
"From this oversold position, market have become in buying range after hitting 4,400 odd-level last week," said the stock broker.
Switzerland's Holcim and France's Lafarge have agreed new terms for their plan to create the world's biggest cement company. Following this news, Lafarge Surma Cement gained 7.33 per cent alone and cement sector emerged as top gaining sector with 5.73 per cent gain.
Fuel and power also gained 2.60 per cent. Pharmaceuticals and telecommunication went up by 1.67 per cent and 0.58 per cent respectively. Banks advanced by 0.31 per cent. Food and allied sector closed flat in red with losing 0.04 per cent while NBFIs closed flat with no movement.
The gainers took a strong lead over the losers as out of 310 issues traded, 203 advanced, 71 declined and 36 remained unchanged on the DSE floor.
Activities increased in the major bourse where trade and volume were up by 55.44 per cent and 51.50 per cent respectively. A total number of 0.081 million trades were executed with trading volume of 60.70 million securities.
The market capitalisation on DSE stood at Tk 3,142.89 billion against Tk 3,108.98 billion in the previous session.
ACI Limited was the day's top turnover chart with shares worth Tk 182.68 million changing hands followed by Lafarge Surma, SPCL, ACI Formulations and IFAD Autos.
The port city bourse, Chittagong Stock Exchange (CSE) also closed in positive zone with its Selective Categories Index - CSCX - gained 76.21 points to close at 8,376.30 points.
Gainers beat losers 142 to 61, with 34 issues remaining unchanged at the port city bourse that traded 5.91 million shares and mutual fund units, turnover value of Tk 229.01 million.
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