Stocks ended Wednesday higher for the second straight session with turnover crossing the Tk 9.0 billion-mark as investors continued buying spree focusing on large cap issues.
The market started with a flying note, gaining 97 points within the opening hour of the session. However, later it slowed down with a gain of 38.99 points or 0.81 per cent to close the session at 4,798.40 points. It is the highest level of DSEX in seven months since February 10 this year.
The other two indices also ended higher. The DS30, comprising blue chips, went up by 20.89 points or 1.12 per cent to close at 1,879.29 points. The DSE Shariah Index gained 10.14 points or 0.90 per cent to close at 1,136.68 points.
The total turnover on DSE reached Tk 9.66 billion, registering an increase of 15.6 per cent over the previous session's value of Tk 8.36 billion. It is the 14-month highest turnover since July 17 last year when it hit Tk 9.86 billion.
"Market remained buoyant amid strong turnover and investors' return chasing tendency," said IDLC Investments, in its daily market analysis.
"Dhaka stocks jumped, lifting the benchmark to seven-month high as bull raced over following the market with fresh fund," commented LankaBangla Securities.
Some actively traded stocks, which took a pit-stop in previous sessions, have discovered a new high level at the end of trading following to strong buying interest among the investors, said the stock broker.
Zenith Investments said: "Market gambles its way higher, thanks to humongous volume that has been rising gradually, as more cash is being pumped into stocks for good".
The total turnover volume crossed the Tk 9.0 billion mark, as more and more investors are injecting their funds into the market which have recently created lot of buzz with its ongoing rally, said the Zenith analysis.
Among the major sectors, fuel and power and food and allied retraced by 0.15 per cent and 0.09 per cent respectively.
Telecommunication posted the highest gain of 2.17 per cent. The financial sectors - banks and NBFIs - appreciated 0.95 per cent and 1.60 per cent respectively. Pharmaceuticals closed 1.01 per cent higher.
The losers, however, beat gainers as out of 300 issues traded, 133 declined, 131 advanced and 36 remained unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where trade and volume were up by 10.11 per cent and 14.74 per cent respectively. A total number of 0.167 million trades were executed in day's trading session with 195.37 million securities of trading volume.
The total market capitalisation of the DSE stood at Tk 3,232.72 billion against Tk 3,210.73 billion in the previous session.
GP was the day's most traded stocks with shares worth Tk 485 million changing hands followed MJL BD, Beximco Pharma, Lafarge Surma Cement and Beximco.
ACI Formulations was the day's highest gainer, posting a rise of 9.98 per cent while Mozaffar Hossain Spinning Mills was the day's worst loser, slumping by 7.98 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gaining 70.65 points to close at 8,934.11 points.
The losers and gainers were same as out of 227 issues traded, 95 advanced, 95 declined and 37 remaining unchanged at the port city bourse that traded 14.20 million shares and mutual fund units with a turnover value of Tk 607.91 million.
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