Stocks extended the winning streak for the second straight session on Wednesday with key index of the Dhaka Stock Exchange (DSE) crossing the 4800-mark once again.
DSEX, the core index of the Dhaka Stock Exchange (DSE), crossed the 4,800-mark, gaining 46 points or 0.96 per cent to settle at 4,827.
The optimistic investors continued their appetite on sector-wise large-cap issues riding on the regulator's recent steps to ensure accountability of the market stakeholders, said a leading broker.
National Board of Revenue (NBR) chairman's comment that no one will raise questions over legalisation of untaxed money also boosted investors' confidence, he said.
Market operators said the enthusiastic investors put fresh stakes on large-cap stocks amid growing confidence in the market riding on regulatory moves to restore discipline in the country's capital market.
A merchant banker said lower returns on the money market, lucrative price level of securities, strong regulatory actions against wrongdoers and expansionary monetary policy helped buoy the market.
However, he said the price hike of low-cap and 'Z' category shares are a matter of concern.
According to DSE information P/E (price earning) ratio of some companies swelled abnormally following the recent rise in their prices.
"The investors should carefully invest in a rising market and should analyse the fundamentals of securities beforehand," he added.
Meanwhile, share prices of four companies -Samata Leather, Shinepukur Ceramic, Meghna Pet Industries and Meghna Condensed Milk--have been soaring despite no undisclosed price sensitive information.
Following the 'abnormal' price hike, the DSE served show-cause notices on the companies.
All four companies in their knee-jerk responses informed the DSE on Wednesday that there was no undisclosed price sensitive information for recent unusual price hike of their shares.
Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 18.51 points to finish at 1,679 and the DSE Shariah Index gained 12.32 points to close at 1,126.
Turnover, the crucial indicator of the market, however, remained below Tk 10 billion-mark for the past five straight sessions and amounted to Tk 7.83 billion on the country's premier bourse, which was Tk 7.86billion in the previous session.
According to International Leasing Securities, investors sustained their buying interest in the large-cap sectors, particularly in food, general insurance, financial institution, power and engineering sectors, helping the key index to stay afloat.
The stockbroker noted that a section of investors booked quick-gain on bank sector stocks.
Gainers outnumbered the losers, as out of 358 issues traded, 198 closed higher, 107 ended lower while 53 issues remained unchanged on the DSE floor.
A total number of 178,622 trades were executed in the day's trading session with a trading volume of 237.43 million shares and mutual fund units.
The market-cap on the premier bourse rose to Tk 3,674 billion on Wednesday, from Tk 3,631 billion in the previous session.
Bangladesh Export Import Company (Beximco) topped the turnover chart with shares worth Tk542 million changing hands, closely followed by Beximco Pharma, Square Pharma, Orion Pharma and Singer Bangladesh.
Desh Garment was the best performer, posting a gain of 10 per cent while Safko Spinning was the worst loser, losing 6.75 per cent.
The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)-advancing 99 points to close at 13,734 and the Selective Categories Index - CSCX -gaining 60 points to finish at 8,302.
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