Turnover crosses Tk 10 billion-mark

Stocks ended higher for the six straight session Tuesday with turnover on the major bourse crossing Tk 10 billion-mark once again as investors’ buying spree continued  mainly on banking stocks.
The market opened on a positive note and peaked over the 5,000-mark in the second hour of trade. However, the market could not sustain at such high point but remained upbeat during the rest of the session.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 42.58 points or 0.86 per cent to close at 4,967.11 points, the highest level since its inception on January 28, 2013.
The DS30, comprising blue chips gained only 2.45 points or 0.13 per cent to close at 1,891.71 points. However, the DSE Shariah Index lost 1.83 points or 0.15 per cent to close at 1,147.76 points.
Trading at DSE has remained vibrant and the total turnover amounted to Tk 10.15 billion, registering an increase of 2.32 per cent over the previous session value of Tk 9.92 billion.
The investors' attention was mostly concentrated on engineering, pharmaceuticals and power - the sectors that accounted for 20.48 per cent, 15.17 per cent and 10.90 per cent respectively of the day's total turnover.
"After hitting all time high at 4,866 points on September 18, 2014, DSEX continued to build on its previous high records following to burgeoning confidence in capital market among the investors," commented LankaBangla Securities.
The day's high crossed the 5,000-mark as banking stocks heated up the market with large volume buy signal, said the stock broker.
"Few large cap stocks saw the selling pressure in last few hours on face of profit booking. Recent rally in market has been largely supported by high liquidity in market and fundamental stocks which are not yet overly stretched," said the stock broker
"Enthusiasm from the investors sustained and market responded positively. As a result, DSEX crossed 5,000.0 points mark at intra-session and finally closed at 4,967.1," said IDLC Investments.
Having consistent rally in most of the major sectors, investors started favoring bank as the most lucrative sector, demonstrating highest trade, 17.2 per cent of the day's turnover as well as highest return of 4.1 per cent, said the merchant bank.
The major sectors posted mixed performance. Banks posted the highest gain of 4.12 per cent - following the sector rally and 5 of its listings even got featured in the top gainers chart.
Fuel and power and food and allied also appreciated by 0.62 per cent and 0.71 per cent respectively. Telecommunication, pharmaceuticals and NBFIs went down by 1.35 per cent, 1.09 per cent and 0.10 per cent respectively.
The enduring upbeat trend of the stock market slowed down to some extend. Profit booking attitude of the investors was observed throughout the session, said International Leasing Securities.
Positive momentum of GP along with banking sector was mostly absorbed by price correction of BATBC, Lafarge Surma, ICB and Beximco, said the International.
Gainers outpaced losers as out of 301 issues traded, 152 advanced, 140 declined, 9 remained unchanged on the DSE floor.
The volume was up by 20.21 per cent but trade was down by 7.77 per cent respectively. A total of 0.203 million trades were executed in day's trading with 275.12 million securities of trading volume.
The total market capitalization on DSE stood at Tk 3,318.33 billion against Tk 3,307.72 billion in the previous session.

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