Dhaka bourse on Wednesday posted another sharp gain for the second consecutive session riding on the regulatory move to expedite the ongoing process of creating special funds by the scheduled banks for investment in the stock market.
On the day, the DSEX, broad index of Dhaka Stock Exchange (DSE), gained 75 points while it added 148 points on the previous session.
The market opened the Wednesday's session positively and the DSEX continued the trend for ten minutes.
Later, the core index witnessed a correction for a while and soon afterwards it displayed another sharp rise and continued the trend till closure.
At the end of the session, the DSEX settled at 4231.48 points with a rise of 1.80 per cent or 75.16 points.
The central bank on Tuesday advised more than a dozen of scheduled banks to expedite the ongoing process of forming special funds to inject life into the capital market.
The top officials of the Bangladesh Bank (BB) delivered the advice through cell phone and later the BB's move was positively reflected in the capital market on Tuesday and Wednesday.
The shariah based index DSES advanced 1.99 per cent or 19.14 points to close at 979.55 points on Wednesday.
The DS30 index comprising blue chip securities went up by 1.68 per cent or 23.45 points to close at 1413.61 points.
According to a market review of EBL Securities, investors seemed to be comfortable after Monday's record-breaking plunge following the market stabilising attempts taken by some banks.
Meanwhile, five banks have taken initiatives to pour fresh funds into the market while another eight banks are going to form special fund in line with the circular recently issued by the central bank.
"The rise in turnover value indicates that investors are trying to be active on the trading floor," said the EBL Securities.
Of 354 issues traded, 270 advanced, 40 declined, and 44 were unchanged on the penultimate day of the week.
The turnover stood at above Tk 4.22 billion which was 28.69 per cent higher than the turnover of the previous session.
Of the major sectors, cement witnessed 3.9 per cent price appreciation followed by engineering 2.4 per cent, pharmaceuticals & chemicals 2.1 per cent, financial institutions 2.0 per cent and textile 1.6 per cent.
Investors' participation was concentrated mostly on pharmaceuticals & chemicals sector which grabbed 23.6 per cent of the market turnover followed by engineering 14.4 per cent, textile 10.6 per cent, fuel & power 8.1 per cent and bank 7.5 per cent.
Monno Cermic Industries topped the scrip wise turnover chart with a value of Tk 158 million followed by Square Pharmaceuticals Tk 131 million, Beacon Pharmaceuticals Tk 125 million, Khulna Power Company Tk 120 million and LafargeHolcim Bangladesh Tk 107 million.
Orion Infusion was the number one gainer with a rise of 9.97 per cent to close at Tk 79.4 each.
Khan Brother PP Woven Bag Industries was the worst loser after declining 4.41 per cent to close at Tk 6.50 each.
On the Chittagong Stock Exchange (CSE), the benchmark index CASPI closed at 12878.31 points with a rise of 1.63 per cent or 206.61 points.
Of 237 issues traded, 178 advanced, 34 declined and 25 were unchanged and turnover stood at above Tk 175.20 million on the port city bourse CSE.
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