Stocks extended their gaining spell for the third consecutive session on Monday, with turnover hitting one-month high as the investors were busy re-balancing their portfolio ahead of Eid vacation.
"The market underwent extremely choppy trading within a thin band, showcasing investors' indecision and focus on small margin volume-based trading," said, IDLC Investments, a merchant bank, in an analysis.
At the end of the four-hour trading session, the prime index of the Dhaka Stock Exchange - DSEX - went up by 10.93 points or 0.22 per cent to finish at 4,841.61, a six-week high.
The two other indices also closed higher. The DS30 index, comprising blue chips, rose 5.11 points or 27 per cent to finish at 1,855.90. The DSE Shariah Index gained 1.29 points or 0.10 per cent to end at 1,187.18.
MTB Capital, a merchant bank, said, "Both buyers and sellers were busy showing their strength but late- hour buoyancy settled in marginal gains."
The participation level increased as investors found less amount of sale pressure ahead of Eid-ul-Azha and pushed the turnover above Tk 5.0 billion-mark, said the merchant bank.
Activities increased on the major bourse where turnover, volume and trade went up by 24.31 per cent, 4.88 per cent and 3.26 per cent respectively.
A total of 0.098 million trades were executed in the day's trading session generating turnover of Tk 5.20 billion with 150.74 million securities trading.
The market capitalisation on the DSE stood at Tk 3,368.45 billion against Tk 3,362.39 billion in the previous trading session.
International Leasing Securities, a stockbroker, said, "The winning streak extended to the leading bourse of the country amidst increased participation from the investors".
The stockbroker noted that the day-long battle between buyers and sellers created choppy trading in the session.
"Gainers outperformed the losers during the session as several investors opted for taking position in stocks at lucrative price-level ahead of Eid vacation as well as the third-quarter's earnings declaration".
"Expectation of sound third-quarter earnings disclosure might have encouraged the investors on the sidelines to inject fresh fund into the capital market," said the stockbroker.
Buying of shares from food and allied, financial institutions and pharma sector mostly helped the bourse to close in the green, it added.
The investors' attention was mainly concentrated on pharma, power and engineering - the sectors that accounted for 22 per cent, 15 per cent and 14 per cent respectively of the day's total turnover.
According to Sheltech Brokerage, financial institutions led the top market cap gainers with 0.9 per cent gain, while miscellaneous led the top market cap losers with 0.5 per cent loss.
Financial institutions also showed the highest turnover increase of 61.1 per cent, while banks showed the highest turnover loss of 38.7 per cent.
According to BRAC EPL, a stockbroker, among the large cap sectors banks retraced by 0.11 per cent and telecommunications closed flat. All the other major sectors closed higher.
NBFIs posted the highest gain of 0.87 per cent, followed by food and allied 0.66 per cent, pharma 0.29 per cent, power 0.27 per cent. Cement closed in the green zone.
The IDLC Investments noted that re-balancing tendency of investment community pushed up turnover to Tk 5.20 billion.
However, significant support came from block-trade of almost Tk 1.0 billion or 19.2 per cent of the day's total trade value, said the merchant bank.
LankaBangla Securities, a stockbroker, said, "Few stocks came in focus amid improved participation reflected by 24.31 per cent rise in turnover value".
"As only one day left before the five-day holiday, investors concentrated on repositioning their stocks in portfolio," said the stockbroker.
Among the major industry news, the government has approved a deal to sell a chunk of unused bandwidth to an Italian company at a price 65.6 times lower than the market rate, the stockbroker said.
Bangladesh Submarine Cable Company Ltd or BSCCL received a go-ahead to sell its 57 gigabits per second bandwidth to Telecom Italia Sparkels for Tk 97.7 million, the total amount for 15 years, which is the life of the submarine cable, said the stockbroker. Khulna Power Company dominated the day's top turnover chart with share of Tk 197 million changed hands followed by BSRM Steels Tk 154 million, Beximco Pharma Tk 143 million, United Airways Tk 135 million, Saif Powertec 127 million, Aman Feed Tk 125 million, Square Pharma Tk 109 million, GP 103 million, Lafarge Surma Cement Tk 92 million and IDLC Finance Tk 89 million changed hands.
ICB Seventh Mutual Fund was the day's best performer, posting a rise of 7.07 per cent followed by Bangas 4.43 per cent, Northern Jute Manufacturing 3.78 per cent, Zahintex Industries 3.60 per cent, Phoenix Insurance 3.41 per cent, Agrani Insurance 3.35 per cent, Quasem Drycells 3.30 per cent, Shasha Denim 3.29 per cent, Apex Spinning 3.12 per cent and Dacca Dyeing gained 2.87 per cent.
The day's worst losers were Bangladesh Building Systems 14.92 per cent, Monno Stafflers 6.10 per cent, BD Autocars 5.37 per cent, Zeal Bangla Sugar Mills 5.06 per cent, Aman Feed 4.70 per cent, Anwar Galvanizing 4.32 per cent, Meghna Cement 4.28 per cent, Legacy Footwear 3.77 per cent, AIMS First MF 3.75 per cent and GPH Ispat lost 3.69 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also edged slightly higher for the third running session, with its Selective Categories Index - CSCX - gaining10.62 points to end at 9,018.10.
Gainers beat losers on the port city bourse that traded 9.39 million shares and mutual fund units valued at Tk 395 million.
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