Stocks rebounded Tuesday, after a single-session break, with prime index of the Dhaka Stock Exchange (DSE) reached record high since its inception on January 27, 2013.
Brokers said the market rebounded as investors showed their buying appetite on telecommunication, pharmaceuticals and food & allied sectors, anticipating positive momentum. It took the core index of the prime bourse to a record high.
The telecom sector continued to surge as GP, the country's largest market-cap listed company's shares price continued to soar and closed at Tk 499.90, the highest closing price since listing with the bourses in 2009.
The GP's share price surged to Tk 71.20 or 16.36 per cent within one month since October 15 last.
"GP is the largest market cap listed company, which accounted for more than 17 per cent market cap of prime bourse to affect the index largely," said an analyst at a leading brokerage firm.
The market started on a positive note and the upward trend sustained till end of the session amid modest volatility. Finally it ended more than 35 points higher.
DSEX, the core index of the DSE, which replaced the DGEN in nearly five years back, went up by 35.52 points or 0.57 per cent to settle at 6,252. It was the highest level of DSEX since its inception on January 27, 2013.
"Enthusiastic investors went on a buying spree on telecom, pharma and bank sector stocks whereas some investors booked profit on textile, fuel & power and ceramic sector stocks," commented International Leasing Securities, a stockbroker, in an analysis.
The port city bourse Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gaining 69 points to close at 11,732.
Losers beat gainers as 118 issues closed lower, 85 ticked higher and 33 remained unchanged on the CSE.
The port city bourse traded 18.39 million shares and mutual fund units worth more than Tk 723 million in turnover.
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