Stocks extended their gaining streak for the seven running sessions Wednesday with prime index of the major bourse crossing 4,800-mark as investors continued their buying spree defying ongoing political turmoil.
The market opened with an upward note and sustained till the market closure. DSEX, the prime index of the Dhaka Stock Exchange (DSE) surpassed the 4,800-mark after 16-session and ended at 4,810.53 points, gaining 23.84 points or 0.49 per cent.
The two other indices also ended in green zone. The DS30 index, comprising blue chips gained 16.69 points or 0.93 per cent to close at 1,804.90 points. The DSE Shariah Index (DSES) went up by 4.70 points or 0.41 per cent to close at 1,145.42 points.
Some fresh funds got injected and total turnover crossed Tk 3.0 billion mark after 19-session and amounted to Tk 3.46 billion, registering an increase of 15.59 per cent over the over the previous session's value of Tk 2.99 billion. It was 19-session high turnover since Tk 3.90 billion on January 14.
The investors' attention was mostly focused on engineering, power and pharma - the sectors that accounted for 15.5 per cent, 13.7 per cent and 12.4 per cent respectively of the day's total turnover.
"Defying political deadlock, lucrative prices as well as expectation on upcoming year-end corporate declarations put an upbeat vibe in overall market sentiment," said IDLC Investments, in its daily market analysis.
In the last six straight sessions' gain added some fresh confidence among investors. As a result, DSEX recovered a sum of 192.1 points in last seven sessions and surpassed 4,800 points after 16-session, the merchant bank said.
International Leasing Securities said: "The market kept its positive walk amidst growing optimism among the investors".
Most of the large-cap and mid-cap stocks stretched their recent price hike, adding further gains for the investors, said the International Leasing.
LankaBangla Securities said: "After rallying more than 150 points in last six trading sessions, market passed a zigzag trading day but managed to close in green territory".
After moving in a wide range, benchmark index freshly closed above 4,800-level. Investors' participation also increased with turnover getting close to Tk 3.5 billion-mark.
Large-cap sectors posted mixed performance. Among the large-cap sectors, telecommunication registered the highest gain of the session with 2.21 per cent. Power went up by 0.81 per cent. Banks and cement closed flat with 0.01 per cent and 0.02 per cent gains.
Pharmaceuticals lost the most with losing 0.66 per cent. Food and allied retraced by 0.14 per cent and NBFIs went down by 0.08 per cent.
The gainers took a modest lead over the losers out of 309 issues traded, 165 advanced, 102 declined and 42 remained unchanged on the DSE floor.
Activities increased in the major bourse where volume and trade were up by 26.52 per cent and 8.23 per cent respectively. A total number of 0.096 million trades were executed with trading volume of 92.30 million securities.
The market capitalisation on DSE stood at Tk 3,240.78 million against Tk 3,227.34 billion in the previous session.
Beximco was the most traded stock with shares worth Tk 166.54 million changing hands followed by IFAD Autos, Aamra Technologies, GP and Agni Systems.
Beximco was also the day's top gainer for the second running sessions, posting a rise of 9.77 per cent while Prime Finance First Mutual Fund was the day's worst loser, plunging 8.33 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 39.86 points to close at 8,924.13 points.
Gainers beat losers 107 to 96, with 30 issues remaining unchanged at the port city bourse that traded 10.53 million shares and mutual fund units, turnover value of Tk 413.64 million.
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