The stock market returned to the green Tuesday, after mild correction in previous session with turnover crossing Tk 7.0 billion-mark once again as investors took fresh position, anticipating short-term rally.
The prime index of the Dhaka Stock Exchange (DSE) - DSEX went up by 34.14 points or 0.75 per cent to close at 4,584.62 points, peaking highest level since its inception on January 27, 2013. DSEX ultimately, secured over 300 points gain in 2014, so far.
The DS30 index, comprising blue chips also advanced 5.42 points or 0.33 per cent to close the session at 1,614.69 points. The DSEX Shariah Index (DSES) also edged up by 6.42 points or 0.68 per cent to close at 947.69 points.
The total turnover on the DSE stood at Tk 7.10 billion, registering 16.4 per cent increase over the previous session's turnover value of Tk 6.10 billion. It was also the highest turnover in 2014. On Sunday last, DSE turnover was Tk 7.08 billion.
"Market continued to touch fresh record high since it broke the resistance level of 4,400 points. It closed at a new high level of 4,585 points," said LankaBangla Securities.
After mild correction in previous day, market opened red, however, huge turnover in second half of the trading session brought the index up with turnover value of Tk 7.10 billion, said the stock broker.
"Investors seem to react positively on growth stocks while Monetary Policy Statement (MPS) for first half of the current fiscal year is expected to focus on exploring the private sector investment by increasing credit growth," said the stock broker.
"Market started with a sloppy attitude, continuing previous session's dim mode. However, as the session approached mid-day, enthusiasm resurfaced, leading a strong turn-around in the bourse," said IDLC Investments.
Micro and Mini Cap stocks showed dominance in this session as investors became inclined to book some quick profit, the merchant bank said.
"The market was in the face of extreme buying pressure which is an indication of the revival of investors' jolly mood," said the Zenith Investments.
Markets upbeat trend for the last couple of days, have captured investors attention and somewhat restored confidence among traders inspiring market participation, the Zenith analysis.
The introduction of new share Mozaffar Spinning Mills sparked some uproar in the Textile industry but investors' main interest was revolving around other sectors, it said.
Gainers beat losers 221 to 56, with 16 issues closed unchanged on the DSE floor.
Among the key sectors, investors took bank, engineering and fuel & power stocks in their buying interest, thus rising market capitalization by 3.1 per cent, 1.1 per cent and 0.8 per cent respectively.
The other large capitalized sectors were mostly flat - Banks gained 0.04 per cent, NBFIs 0.06 per cent and telecommunications 0.08 per cent.
In the mean time, Non Life insurance appeared lucrative to the investors, gaining 4.41 per cent. Cement followed gaining 2.96 per cent. Textile debutant Mozaffar Spinning Mills blazed on the day, being the day's most active stock, generating value of Tk 341 million.
Activities increased in the major bourse (DSE) where volume and trade were up 9.70 per cent and 15.86 per cent respectively. A total of 0.159 million trades were executed with 153.24 million shares and mutual fund units were trading volume.
The market capitalization of the DSE stood at Tk 2,797.53 billion against Tk 2,780.16 billion in the previous session.
Mozaffar Hossain Mills which made its debut trading Tuesday dominated both the gainers and turnovers charts. The newcomer gained 353 per cent from its issue price of Tk 10.0 and also posted the highest liquidity of Tk 341.2 million while Stylecraft was the day's worst losers, slumping by 6.72 per cent.
The Chittagong Stock Exchange (CSE) also closed higher after previous session's correction, with its Selective Categories Index - CSCX gained 65.81 points to close at 8,996.92 points.
Gainers beat losers 142 to 67, with 26 issues remaining unchanged at the port city bourse that traded 17.01 million shares and mutual fund units, turnover value of Tk 644.40 million.
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