Turnover rises to Tk 3.93 billion

Stocks witnessed sharp gain Sunday for the second running sessions with turnover improved significantly as optimistic investors took position on lucrative stocks amid optimism.
The market opened with an upward note and the upbeat trend sustained throughout the session. DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 48.77 points or 1.08 per cent to close at 4,558.08 points.
The two other indices also ended higher. The DS30 index, comprising blue chips gained 24.02 points or 1.40 per cent to close at 1,737.88 points. The DSE Shariah Index (DSES) soared 14.46 points or 1.32 per cent to close at 1,111.24 points.
A large chunk of buyers seems convinced as they increased participation to Tk 3.93 billion, which was 12.28 per cent higher over the previous session's value of Tk 3.50 billion. It was also two and a half months highest single-day turnover since Tk 4.21 billion on January 13.
The investors' attention was mostly focused on power, pharma and textile - the sectors that accounted for 23.4 per cent, 23.0 per cent and 9.8 per cent of the day's total turnover respectively.
"Market performed quite well during the first day of the week as investors are getting a little hopeful about the country's political situation," LankaBangla Securities said, in its daily market analysis.
IDLC Investments said: "Investors tried to reverse the market in the day's session, exploiting apparent political calm".
In addition, although, first quarter was abysmal for the economy, earnings expectations built up and played a complementary role in stock pricing, said the merchant bank.
"The market witnessed another shining session amid increased participation from the investors," said International Leasing Securities.
"Latest improvement in the country's political front centering the city corporation elections made the investors confident about the market expectation," said the International Leasing.
Activity from the market participants mounted and the market witnessed significant buying pressure in the morning. However, major buying pressure slowed down later in response to the fresh strike call in the country except in the two major cities, said the International Leasing.
Among the major sectors, NBFIs registered the highest gain of the session of 3.33 per cent. Telecommunication also appreciated by a hefty 3.10 per cent today. Power went up by 2.95 per cent. Pharmaceuticals and Banks closed higher by 0.81 per cent and 0.12 per cent respectively.
Cement and food and allied sectors closed lower, losing 1.31 per cent and 1.01 per cent respectively.
The port city bourse, Chittagong Stock Exchange (CSE) also saw steep gain with its Selective Categories Index - CSCX - gained 130.34 points to close at 8,468.69 points.
Gainers beat losers 151 to 55, with 25 issues remaining unchanged at the port city bourse that traded 6.43 million shares and mutual fund units, turnover value of Tk 273.15 million.
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