Stocks ended higher for the third running sessions Wednesday with turnover remained unchanged as investors put focus on micro and large cap stocks.
After crossing 4,600-point mark in the previous session, the prime index of the Dhaka Stock Exchange (DSE) further gained 30.02 points and closed at a new 4-month high of 4,632.46 points.
The other two indices outperformed the broader index. The DS30, comprising blue chips gained 12.07 points or 0.69 per cent to close at 1,758.07 points. The DSE Shariah Index went up by 3.55 points or 0.32 per cent to close at 1,087.12 points.
The total turnover on DSE stood at Tk 5.50 billion, which was 0.34 per cent lower over the previous session's Tk 5.52 billion.
The investors' activity was mainly focused on pharmaceuticals, engineering and power - the sectors that accounted for 14.03 per cent, 11.90 per cent and 11.81 per cent respectively of the day's total turnover.
"The stock market's bullish spell stretched even further as the investors' continuous buying spree established the prime index beyond 4,600-level," commented International Leasing Securities, in its regular market analysis.
The investors found most of the scrips as lucrative price level from various sectors, particularly general insurance, bank and financial institutions, said the International Leasing.
LankaBangla Securities said: "Bulls rejoin the market momentum with strong ground as soon as the benchmark index crossed the resistance level 4,600".
Index recorded 30.02 points of gain amid a very positive market breadth, though some investors lured by profit booking at attractive prices, it said.
"Investors are eyeing on the value stocks and finding those conducive to the long run strength of the market," said the stock broker.
IDLC Investments said: "Gaining tone in equity market sustained, with investors' focus on micro cap stocks. Some large cap stocks assisted the extension of previous session's positivity, at opening hour".
"Market once again snared rock solid gains from early morning, as almost all the stocks were subject to substantial buy pressures," observed Zenith Investments.
With massive levels of volume, indices were somewhat stable in a positive manner, creating less diversion through volatility, it said.
"The capital market have made lot of noise within these few days, as lot of money is being injected by the investors raising the share prices as well as drawing the attention of the general public," said Zenith Investments.
Multinational cement manufacturer Lafarge Surma Cement prolonged its recent price hike, gaining another 3.92 per cent.
Among the prominent sectors, insurance led the top market cap gainers with 3.4 per cent gain followed by cement 2.6 per cent , bank 1.1 per cent and NBFI 1.05 per cent.
The gainers took a strong lead over the losers as out of 298 issues traded, 205 advanced, 67 declined and 26 remained unchanged on the DSE floor.
A total of 0.131 million trades were executed with 143.31 million securities of trading volume. The total market capitalisation of the DSE stood at Tk 3,117.97 billion against Tk 3,106.73 billion in the previous session.
Lafarge Surma Cement was the day's most traded stocks with shares worth Tk 258.90 million changing hands followed by GP, Beximco, Beximco Pharma and MJL BD.
Intech Online was the day's highest gainer, posting a rise of 10 per cent while Libra Infusion was the day's worst loser, slumping by 3.67 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index - CSCX - gained 55.30 points to close at 8,730.35 points.
Gainers beat losers 140 to 54, with 25 issues remaining unchanged at the port city bourse that traded 13.86 million shares and mutual fund units, turnover value of Tk 418.50 million.
