The market rebounded on winning streak Tuesday, snapping a four-day losing streak, as investors put fresh bets on large-cap stocks based on the latest quarterly earning declarations.
The market opened on a positive note and the upbeat trend continued until the end of the session amid renewed buying spree in some selective stocks that posted higher profit growth.
DSEX, the core index of Dhaka Stock Exchange (DSE), soared 71.31 points or 1.02 per cent to settle at 6,997, after losing over 106 points in the last four consecutive sessions.
Market analysts said higher-than-expected earnings and dividend declarations of some listed companies encouraged the investors to put fresh fund on stocks.
Low-cap companies dominated the gainers' list.
Alltex Industries, a 'Z' category company was the day's top gainer, posting a gain of 17.08 per cent, followed by Bangladesh Building Systems (9.92 per cent), Khan Brother PP Woven Bag Industries (9.92 per cent), Acme Pesticides (9.89 per cent) and Yeakin Polymer (9.88 per cent).
LafargeHolcim Bangladesh has reported earnings per share of Tk 3.34 for the year ended on December 31, 2021 as against Tk 2.03 for the same period of the previous year.
The multinational cement maker also recommended a record 25 per cent cash dividend for the year ended on December 31, 2021.
Accordingly, the company's share price jumped 6.18 per cent to close at Tk 80.70 on Tuesday. It was also the day's second highest turnover leader with a value of Tk 909 million.
Alltex Industries, a 'Z' category company, also jumped 17.08 per cent to close at Tk 20.60 per share as the company returned to profit in October-December 2021 quarter.
The home textile exporter has reported earnings per share of Tk 1.36 for October-December 2021 as against loss of Tk 1.13 per share for October-December 2020.
Square Pharma posted a 24.20 per cent growth in consolidated EPS to Tk 10.88 for July-December 2021. Following the news, the leading drug maker stock price surged by 2.04 per cent to close at Tk 224.70 on Tuesday.
Some 18 listed companies published their quarterly financial reports on Tuesday. Of them, 12 posted higher growth in EPS for October-December 2021 compared to the same period a year earlier.
Five large-cap stocks such as LafargeHolcim, Robi, Square Pharma, Power Grid Company and Delta Life Insurance, jointly contributed 30 points rise to the DSEX, according to amarstock.com, a market data analyst.
Two other indices also closed higher with the DS30 index, comprising blue chips, rose 29.41 points to finish at 2,588 and the DSE Shariah Index gained 15.60 points to close at 1,497.
Turnover, an important indicator of the market, also rose and amounted to Tk 13.52 billion, which was 11 per cent higher than the previous day's tally of Tk 12.15 billion.
All the major macro indicators indicated that the country is well placed to overcome the potential challenges from the pandemic, which bolstered investors' confidence, commented EBL Securities.
Cement sector saw the highest gain of 4.20 per cent, followed by power 1.10 per cent, pharma 1.10 per cent, engineering 0.80 per cent, telecom 0.40 per cent, and banking 0.30 per cent.
Of the 380 issues traded, 239 ended higher, 95 lower while 46 remained unchanged on the DSE trading floor.
A total number of 238,787 trades were executed in the day's trading session with a trading volume of 288.33 million shares and mutual fund units.
The market capitalisation of the DSE also rose to Tk 5,611 billion on Tuesday, up from the previous day's mark of Tk 5,569 billion.
Beximco - the flagship company of Beximco Group- topped the turnover chart with shares worth Tk 968 million changing hands, closely followed by LafargeHolcim (Tk 909 million), Bangladesh Shipping Corporation (Tk 709 million), Bangladesh Building Systems (Tk 388 million) and Orion Pharma (Tk 377 million).
The Chittagong Stock Exchange also bounced back with its All Shares Price Index (CASPI)-rising 223 points to close at 20,522 while the Selective Categories Index - CSCX soaring 135 points to close at 12,329.
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