Stocks extended their winning streak on Sunday, with turnover crossing Tk 21 billion mark after 11 months, as enthusiastic investors put fresh funds on major sector shares amid high hopes.
Turnover, a crucial indicator of the market, stood at Tk 21.05 billion on the country's premier bourse, 18 per cent up from the previous day's mark of Tk 17.77 billion.
It happens to be the biggest single-day transactions since October 7, 2021, when the turnover clocked in at record Tk 24.97 billion.
Attuned to the rising turnover value, DSEX, the benchmark index of the DSE, climbed 46.73 points or 0.73 per cent to settle at 6,401, the highest level in 10 weeks.
The market jumped at the opening but slowed down in the late hours before closing higher, driven by banking, financial institutions and general insurance sector stocks.
Market operators said the market remained bullish amidst enthusiastic participation as the investors are more confident to put fresh bets on major sector stocks anticipating positive momentum ahead.
The growth in turnover and index suggests investors' confidence in the market is back on the ascent, said a merchant banker.
"Continuous growth in turnover pushed investors' confidence high and high volume suggested that institutional investors were largely active in the market," he said.
"The recent recovery signs on the macroeconomic front, particularly foreign exchange market stability, easing inflationary pressures, and stability in energy supply, instilled confidence into investors," said EBL Securities.
According to International Leasing Securities, the bargain hunters put fresh bets on sector-wise issues as they are getting back confidence in the bullish market.
The DS30 index, comprising blue chips, also advanced 3.66 points to finish at 2,271. However, the DSE Shariah index saw a fractional loss of 0.20 points to close at 1,390.
The textile sector dominated the turnover chart, capturing 17.5 per cent of the day's total turnover, followed by pharmaceuticals (12.6 per cent) and engineering (11.2 per cent).
Most of the large-cap sectors posted gains. The general insurance sector booked the highest gain of 3.20 per cent, followed by banking with 1.60 per cent, engineering 0.74 per cent, financial institutions 0.60 per cent, power 0.52 per cent and telecom 0.30 per cent.
A total of 317,330 trades were executed in the day's trading session with a trading volume of 525.96 million shares and mutual fund units.
The market-cap of DSE also rose to Tk 5,160 billion on Sunday, up from Tk 5,132 billion in the previous session.
Gainers took a strong lead over the losers as out of 382 issues traded, 219 closed higher, 102 lower and 61 issues remained unchanged on the DSE trading floor.
Orion pharma became the most-traded stock with shares worth Tk 1.14 billion changing hands, closely followed by Beximco (Tk 1.05 billion), Fortune Shoes (Tk 680 million), Malek Spinning Mills (Tk 647 million) and Delta Life Insurance (530 million).
The Chittagong Stock Exchange (CSE) also ended higher, with the CSE All Share Price Index (CASPI) gaining 180 points to settle at 18,823 and its Selective Categories Index (CSCX) rising 109 points to close at 11,281.
Of the issues traded, 191 advanced, 66 declined and 56 issues remained unchanged.
The port-city bourse traded 30.09 million shares and mutual fund units with turnover value of Tk 583 million.
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