Stocks close higher, turnover up

Stocks ended higher Thursday after two session's marginal correction with improving turnover value as investors went for buying spree again amid optimism.
The market started with a positive note and gained around 56 points within first 30 minutes of trade. However it saw some volatility in the mid-session, eventually ended 33.59 points higher.
At the end of the session, the prime index of the Dhaka Stock Exchange (DSE) --- DSEX --- ended at 4,845.08 points, gaining 33.59 points or 0.69 per cent from previous session.
The others two indices outperformed the market. The DSE Shariah Index (DSES) gained 13.83 points or 1.40 per cent to close at 996.35 points. The DS30 index, comprising blue chips also advanced 18.15 points or 1.09 per cent to close the session at 1,681.91points.
The total turnover on DSE stood at Tk 7.70 billion, registering 24.2 per cent increase over the previous session's turnover value of Tk 6.20 billion.
"The benchmark index of the DSE got a lift of 33.59 points on the last trading day of the week since it made some correction in the middle of the week," said LankaBangla Securities, in its daily market analysis.
"The concern over market outlook promoted investors to keep turnover to grow marginally in this week, however, the day's turnover up by 24.2 per cent," the stock broker said.
On the economic front, financial market is showing resilience on account of government's stimulus to keep exchange rate stable to reserve the interest of exporters, the stock broker said.
"Mixed trading attitude of market makers over last few trading sessions indicates that the market is cautiously optimistic on the future gain as quarterly corporate profit are coming with less battered declaration as it was expected," the stock broker added.
The gainers took lead over the losers as out of 294 issues traded, 148 advanced, 118 declined and 28 issues closed unchanged on the DSE floor.
Among the major sectors pharmaceuticals, telecommunications and cement up by 3.3 per cent, 2.7 per cent and 0.6 per cent respectively.
Activities increased in the major bourse (DSE) where volume and trade were up by 10.44 per cent and 11.56 per cent respectivily. A total of 0.142 million trades were executed with 145.92 million securities of trading volume.
The market capitalisation of the DSE stood at Tk 2,919.20 billion against Tk 2,894.92 billion in the previous session.
Square Pharma dominated the top turnover chart with shares worth Tk 411.47 million changing hands followed by BSCCL, Jamuna Oil, Olympic Industries and Meghna Petroleum, GrameenPhone, Mercantile Bank, Padma Oil, LankaBangla Finance and Confidence Cement.
BSCCL was also the day's highest gainer, posting a rise of 7.41 per cent followed by Renata, Renwick Jajneswar, Bata Shoe, Green Delta Insurance, Marico, Pragati Life Insurance, Padma Life Insurance, Bengal Windsor and Linde Bangladesh.
Rahima Food was the day's worst losers, slumping by 5.02 per cent. It was followed by Savar Refractories, Standard Ceramics, Al-Haj Textile and Kay & Que.
The Chittagong Stock Exchange (CSE) also closed higher, with its Selective Categories Index - CSCX gained 79.57 points to close at 9,523.05 points.
Losers beat gainers 111 to 92, with 26 issues remaining unchanged at the port city bourse that traded 15.12 million shares and mutual fund units, turnover value of Tk 602.94 million.