The bullish spell continued on the bourses Sunday with prime index of the major bourse crossing 5,300-point mark for the first time after its inception in January 2013, as the market was on a steady gaining streak.
It was the first trading session after a prolonged 9-day Eid vacation. Mostly financial stocks led the day at new peak point, where banking stocks gave 5.2 per cent return with all remaining in green territory and NBFIs moved up by 1.8 per cent.
The market opened the session on a positive note and remained upbeat for the entire session, witnessing heavy buy pressure in the last hour of trade. DSEX, the prime index of the Dhaka Stock Exchange (DSE) climbed 96.31 points or 1.83 per cent to close at 5,334.03 points, the highest single-day gain in 2014.
The two others indices also closed higher. The DS30, comprising blue chips, gained 5.52 points or 0.27 per cent to close at 1,998.69 points. The DSE Shariah Index rose 15.07 points or 1.23 per cent to close at 1,234.32 points.
However, the total turnover value on DSE came down to Tk 9.15 billion, registering a decline of 2.34 per cent over the last session's value of Tk 9.37 billion.
The investors' attention was mostly concentrated on fuel and power, banks and textiles - the sectors that accounted for 46.2 per cent of the day's total turnover.
"The stock market witnessed a biggest single-day gain in the year as the investors remained highly confident on the market's future outlook," said International Leasing Securities, in its daily market analysis.
Stocks from the banking sector almost single-handily led the day's upward movement as well as small cap stocks from other sectors also rallied throughout the session, said the International Leasing.
However, investors sell-off was observed across June-ending companies as the investors booked their profit and shifted toward the day's highest earning stocks, it added.
"Strong interest in capital market fueled in accelerating the bull-run further, with DSEX surpassing 5,300 points level, at first trading day after Eid vacation," said IDLC Investments.
The benchmark index closed in green, adding another 96.3 points. However, the blue chip DS30 advanced only 5.5 points, reflecting the shift in momentum towards mini and small cap stocks, while large cap remained relatively stable, said the merchant bank.
LankaBangla Securities said: "Dhaka Stocks Exchange (DSE) settled in the green, racking up sixth week of gains following a buoyant closing before Eid vacation".
Market continued to beat its record single day return with 96.37 points gain the highest ever gain in this year, said the stock broker.
Mostly financial stocks led the day at new pick point, where banking stocks gave 5.2 per cent return and NBFIs moved up by 1.8 per cent. NBFIs are capitalizing on their declining costs of funds and improved economic conditions, said the stock broker.
Last two months was very attractive for the investors and the market was able to create that environment after a long time ever since the 2010 depression, said an analyst.
He said that some high-profile companies are still lucrative to invest in, while most of low-profile companies' shares turn into overprices.
"The investors should carefully invest in a booming market and should analyse the fundamentals of securities before they put cash in stocks," he added.
The securities regulator on September 23 also advised the investors to make their investment decision based on company's fundamental and not to pay heed any rumours for sustainable growth of the capital market.
Fuel and power revealed decent gain of 1.19 per cent and pharmaceuticals closed 0.90 per cent higher. Food and allied 2.37 per cent retraced. Telecommunication closed flat in red with 0.02 per cent loss.
Gainers outpaced losers as out of 305 issues traded, 246 advanced, 47 declined and 12 remained unchanged on the DSE floor.
The port city bourse, Chittagong Stock Exchange (CSE) also saw sharp gain with its Selective Categories Index - CSCX - gained 213.78 points to close at 9,995.31 points.
Gainers beat losers 173 to 52, with 10 issues remaining unchanged at the port city bourse that traded 21.66 million shares and mutual fund units, turnover value of Tk 619.84 million.
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