The stock market posted a marginal gain for the second straight session on Wednesday, supported by price appreciation of some selective stocks amid the ongoing earnings declarations.
It witnessed a see-saw trading before closing marginally higher as most of the investors remained cautious in the ongoing macroeconomic adversities.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 6,344 points, gaining 16.15 points or 0.25 per cent. DSEX added more than 36 points in the past two consecutive sessions.
Turnover, the important indicator of the market, stood at Tk 7.42 billion on the prime bourse, which was 19 per cent higher over the previous day's tally of Tk 6.23 billion.
Market operators said bargain hunters showed interest in selective stocks while some investors were busy rebalancing their portfolios amid the corporate disclosures one after another.
Top positive index contributors-Beacon Pharma, Sea Pearls Beach, Beximco, and Bangladesh Shipping Corporation and Eastern Housing jointly accounted for 11 points rise of DSEX, according to amarstock.com, a market data analyst.
Investors showed their interest in some sector-specific issues which were being traded at lucrative prices owing to the ongoing earnings declarations, said EBL Securities.
Investors were optimistic about a quick resolution of the matter tied to the purchase of stocks before cheque encashment, it said.
Some investors on the other hand remained watchful for bleak expectations from the upcoming corporate declarations due to the macroeconomic adversities, said the stockbroker.
Most of the traded issues stuck at the floor prices without potential buyers. Of the 354 issues traded, 71 advanced, 46 declined and 237 remained unchanged on the DSE trading floor.
Major sectors posted gains. The pharmaceuticals booked the highest gain of 0.16 per cent, followed by banking 0.08 per cent, financial institutions 0.07 per cent, food 0.07 per cent, and power 0.03 per cent.
Beximco became the most-traded stock with shares of Tk 722 million changing hands, followed by Orion Pharma (Tk 403 million), Sea Pearls Beach (Tk 374 million), Anwar Galvanizing (Tk 354 million) and Eastern Housing (Tk 323 million).
eGeneration was the top gainer, rising 9.94 per cent while Rangpur Foundry was the worst loser, losing 5.15 per cent.
The Chittagong Stock Exchange (CSE) also closed marginally higher with the CSE All Share Price Index (CASPI) gaining 24 points to 18,678 and its Selective Categories Index (CSCX) 14 points to 11,193.
Of the issues traded, 48 advanced, 43 declined and 110 issues remained unchanged.
The port-city bourse traded 2.77 million shares and mutual fund units with a turnover value of Tk 196 million.