Market remains upbeat

FE Report | Published: February 21, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

After previous session's strong recovery, the market remained upbeat with improved turnover Thursday as investors' positive attitude supported market pulse to remain bullish.
The benchmark index of the Dhaka Stock Exchange (DSE) --- DSEX --- ended at 4,761.18 points, gaining 11.94 points or 0.25 per cent from previous session amid modest see-saw.
The other two indices closed flat in positive. The DS30 index, comprising blue chips went up by 1.01 points or 0.05 per cent to close at 1,688.02 points. The DSE Shariah Index (DSES) advanced 1.35 points or 0.13 per cent to close at 995.27 points.
Market participation improved a bit and total turnover on DSE stood at Tk 3.99 billion, registering 4.5 per cent increase over the previous session's value of Tk 3.82 billion.
"Market has reeled keeping the upturn of previous day. Stocks have careened around the market since market got some breathing space after three days of correction in this week," said LankaBangla Securities, in its daily market analysis.
Although Asian Development Bank (ADB) expected subdued economic growth in its quarterly report on Bangladesh, market showed a sign of relief on account of revived economic activities in post-election period, the stock broker said.
"Investors are also expected to put a positive spin on the news of historic hike in foreign reserve of USD 19.04 billion as it might taper the interest rate in the economy," the stock broker added.
"Investors' positive attitude supported market pulse to remain bullish Thursday amid improved turnover," said International Leasing Securities, in its daily market analysis.
Upward trend at early hours, however, slowed down as session progress. Meanwhile, activity at the prime bourse - DSE, improved a bit and reached almost Tk 4.0 billion, said the International Leasing Securities.
After eight sessions of market correction around 174 points, it recovered 90 points in last two consecutive sessions amid relatively less participation, said IDLC Investments.
However, portfolio re-balancing was prominent among cautious investors as lucrative valuation was still offered at scrip level, the merchant bank said.
"Search for such scrips kept market vibrant during the day's trading. Besides, investors' focus in Micro Cap and Small Cap assisted the market to end in green zone," said the merchant bank said.
During the day's session, enormous profit booking took place in mutual funds and emerged five mutual funds to be in top ten losers list, the merchant bank added.
"Investors breathed a sigh of relief, as market closed the week in positive territory although many expected the market to remain downbeat for a couple of few more days," observed Zenith Investments.
The gainers took a strong lead over the losers as out of 290 issues traded, 188 advanced, 78 declined and 24 issues closed unchanged on the DSE floor.
The Chittagong Stock Exchange (CSE) also closed marginally higher with its Selective Categories Index - CSCX gained 8.95 points to close at 9,341.69 points.