The Dhaka bourse closed Monday's session with a sharp rise in the broad index, snapping the losing streak of the previous two sessions, as the majority of listed securities recorded gains.
Increased investor participation, driven by expectations of quick gains as political clarity emerges, supported the market's upward trajectory, according to EBL Securities.
The market opened on a positive note, and the DSEX-the broad index of the Dhaka Stock Exchange (DSE)-maintained its upward momentum for the first hour amid increased investor participation.
After shedding some points during the mid-session, the index regained strength and moved steadily as investor optimism remained intact until the close.
At the end of the session, the DSEX settled at 5,311 points, up 1.58 per cent or 82 points.
"Buyers were predominant from the onset of the day's session and remained strong throughout, leading to broad-based price appreciation across most scrips as the session progressed," reads an EBL Securities' market review.
Of the total issues traded, 327 advanced, 37 declined, and 33 remained unchanged. The premier bourse posted a turnover of Tk 6.46 billion, up 35 per cent from the previous session.
All 30 blue-chip stocks with significant influence on the broad index closed higher on Monday.
As a result, the DS30 index, which tracks blue-chip stocks, rose by 1.66 per cent or 33 points to close at 2,031 points.
Simtex Industries topped the turnover chart with transactions worth Tk 206 million, followed by Asiatic Laboratories, Dhaka Bank, Islami Bank Bangladesh, and Bangladesh Shipping Corporation.
The top 10 index movers together added 29.5 points to the broad index. Among them, Beximco Pharmaceuticals alone contributed five points, followed by BRAC Bank, Renata, and National Bank.
On the other hand, Islami Bank emerged as the top loser, erasing 22.1 points from the index, followed by Al-Arafah Islami Bank, GQ Ball Pen, and Dominage Steel Building Systems.
The share price of Islami Bank surged 49 per cent to Tk 54.20 on February 3 from its January 22 level. However, the price declined by 11 per cent over the next three sessions and closed at Tk 48.40 on Monday.
Sharp Industries was the top gainer of the day, advancing 9.83 per cent to close at Tk 13.40 per share.
Investor participation was largely concentrated in the banking sector, which accounted for 20.6 per cent of total turnover, followed by pharmaceuticals and chemicals with 15.7 per cent and textiles with 15.6 per cent.
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