Stock market remains vibrant

The market witnessed another winning session Tuesday with turnover improved further as optimistic investors’ buying spree on large cap stocks continued.
The market remained vibrant through the session. DSEX, the prime index of the Dhaka Stock Exchange (DSE) crossed the 'psychological' threshold of 4,900-mark after ten sessions and ended at 4,932.89 points, gaining 64.24 points or 1.31 per cent.
The blue chip stocks rallied up outperforming the overall market and gaining an impressive 38.16 points or 2.12 per cent to close at 1,837.44 points. The DSE Shariah Index rose 22.09 points or 1.95 per cent to close at 1,154.01 points.
Some fresh fund injection was observed, putting further improvement in turnover. Total turnover stood at Tk 3.73 billion, which was 9.38 per cent higher compared to previous session's value of Tk 3.41 billion.
Power, pharmaceuticals and banks registered the highest investor participation contributing 16.1 per cent, 16 per cent and 11.4 per cent to the total market turnover respectively.
"The DSEX crossed the 4,900-level amidst the investors' growing confidence regarding the market's attitude. Throughout the session, the large cap stocks from major sectors prolonged their recent price hike," said International Leasing Securities, in an analysis.
LankaBangla Securities said: "After a consolidation phase, market gained some positive ambiance backing on large cap stocks".
Almost all the major sectors closed green, with relatively small cap stocks gaining the most, said the stock broker.
IDLC Investments said that stimulated with the consistent buying pressure in large cap stocks the market moved ahead further.
GP, Lafarge Surma Cement and Square Pharma led the market rally, gaining 4.8 per cent, 5.6 per cent and 2.8 per cent respectively.
Meanwhile, volatility was prevalent, while investors continued searching for lucrative spreads. Accordingly, 89 out of 302 traded issues posted more than 2.0 per cent change of their respective price, said the merchant bank.
"While one or two days of uptrend do not dictate that the positivity is likely to sustain for the long run, more confirmation from the market is required for investors to jump to any conclusion," observed Zenith Investments.
Telecommunication continued its positive momentum with 4.62 per cent gain, thanks to the largest stock in the market - GP which gained 4.8 per cent alone.
Cement went up by 4.15 per cent largely owing to the steep price appreciation of Lafarge Cement which gained 5.6 per cent. The other major sectors posted decent gains - pharmaceuticals, power banks and fuel and power gained 1.52 per cent, 0.91 per cent, 0.26 per cent and 0.03 per cent respectively.
Gainers outpaced losers as out of 302 issues traded, 220 advanced, 51 declined and 31 remained unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where trade and volume were up by 7.14 per cent and 0.02 per cent respectively. A total of 0.083 million trades were executed with trading volume of 85.32 million securities.
The total market capitalisation on the DSE stood at Tk 3,269.92 billion against Tk 3,225.36 billion in the previous session.
The port city bourse, Chittagong Stock Exchange (CSE) also saw sharp gain with its Selective Categories Index - CSCX - gained 89.32 points to close at 9,249.27 points.
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