Stocks post modest gains, turnover jumps 46pc

Stocks closed higher on Sunday, extending the gaining streak for a second consecutive session, as buoyant investors put fresh bets on selective stocks ahead of the dividend season for June-closing companies.
The Dhaka Stock Exchange (DSE) opened higher and the key index jumped 54 points in the first 15 minutes of trading, but most of the early gains were eroded after the mid-session.
The benchmark DSEX index settled the day 20.12 points or 0.31 per cent higher at 6,535. DSEX added 48 points in the past two trading days.
Turnover, a crucial indicator of the market, jumped to Tk 18.14 billion on the premier bourse, 46 per cent up from the previous day's tally of Tk 12.43 billion.
Block trade contributed nearly 12 per cent to the day's total turnover, with stocks like Renata (652 million), British American Tobacco (Tk 651 million), Orion Pharma (Tk 227 million), Orion Infusion (Tk 220 million) and IPDC Finance (Tk 90 million) dominating the block trade.
Market insiders said bargain hunters showed their buying interest in lucrative stocks, taking the market index higher and turnover higher.
The optimistic investors persisted in their buying binge on sector-wise big-cap stocks ahead of the dividend season as they expect strong earnings for the companies whose financial year ended in June, said a leading broker.
Most stocks, however, went through a correction mode in the later part of the session due to the profit-booking tendency of some investors, he said.
The market stayed afloat along with increased participation as bargain hunters continued their buying appetite for sector-specific stocks while others were engaged in partial liquidation of their holdings, said EBL Securities.
The price appreciation in some sector-specific large-cap stocks kept the index afloat throughout the session, said the stockbroker.
The day's positive index movers were Beacon Pharma, Orion Pharma, Seal Pearls Beach, Orion Infusion and Bangladesh Shipping Corporation which jointly added 17 points to the DSEX, according to stocknow.com, a financial data analyst.
Buying pressures of the investors pulled the prime index higher although buyers' activity became slow in the later part of the session, according to International Leasing Securities.
Two other DSE indices also ended higher. The DS30 Index, comprising blue-chip companies, rose 17.15 points to close at 2,363 and the DSES Index advanced 6.11 points to finish at 1,435.
The pharmaceuticals sector topped the turnover chart, grabbing 28 per cent of the day's total turnover, followed by miscellaneous (15 per cent) and engineering (7.0 per cent).
The large-cap sectors witnessed mixed performance. The general insurance sector saw the highest gain of 2.60 per cent, followed by pharma 1.10 per cent, cement 0.40 per cent and telecom 0.02 per cent.
On the other hand, the non-bank financial institutions posted the highest loss of 1.04 per cent, followed by power with 0.52 per cent, banking 0.23 per cent, engineering 0.05 per cent and food 0.02 per cent.
Losers, however, took a modest lead over the gainers, as of the 371 issues traded, 140 declined, 109 advanced and 122 others remained unchanged on the DSE trading floor.
Orion Pharma became the most-traded stock with shares worth Tk 2.20 billion changing hands, followed by Beximco (Tk 1.34 billion), JMI Hospital Requisite Manufacturing (Tk 793 million), Orion Infusion (Tk 469 million) and Eastern Housing (Tk 447 million).
Standard Ceramic Industries was the day's top gainer, posting a 9.99 per cent rise while Union Capital was the worst loser, losing 6.19 per cent.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index (CASPI) rising 60 points to settle at 19,200 and its Selective Categories Index (CSCX) gaining 36 points to close at 11,509.
Of the issues traded, 101 declined, 75 advanced and 90 issues remained unchanged.
The port-city bourse traded 10.17 million shares and mutual fund units with a turnover value of Tk 399 million.

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