Stocks ended higher Tuesday after previous session's flat ending with improved turnover as several small and mid-cap scrips appeared attractive to the investors who are looking for fresh investments.
The market started with a positive note and the upturn continued till the market closure. DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,562.96 points, gaining 56.52 points or 1.25 per cent.
The other two indices also closed higher. The DS30, comprising blue chips gained 21.44 points or 1.30 per cent to close at 1,668.98 points. The DSE Shariah Index (DSES) went up by 7.74 points or 0.77 per cent to close at 1,010.59 points.
The total turnover value stood at Tk 4.47 billion which was 21.46 per cent higher compared to the previous session's value of Tk 3.68 billion.
"The market showed signs of recovery from its recent bearish outlook with a positive vibe among investors which continued throughout the day," commented International Leasing Securities, in its regular market analysis.
Several small cap and mid-cap scrips in the major sectors including textile, general insurance and financial institutions appeared attractive the investors who are looking for fresh investments, said the International Leasing.
Satisfactory earnings from a few companies like GP and UCBL were also reflected in the top turnover board, it added.
"Market continued positive momentum for yet another session on Tuesday with mixed economic news and strong inflow of foreign fund," commented LankaBangla Securities.
"Market participants might be eyeing the pre-budget meeting; if it is conducive to market expectation then growth will be back on agenda and will have consistency on policy front," said the stock broker.
"Index made strong turnaround, after reaching psychological support level of 4,500 points. Last day's flat ending signalled reversal in market sentiment, which materialized from the beginning of the session," said IDLC Investments.
Riding on a market wide price appreciation especially in smaller Cap classes, DSEX advanced 56.52 points and closed at 4,563. Following the vibe, participation was strong, strengthening turnover to around Tk 4.5 billion, the merchant bank added.
Earning declarations couple with lucrative prices played vital role in market to determine top gainers, with Meghna Cement, Beach Hatchery and Confidence, taking place in the top ten gainers list.
"Dhaka bourse ended the day on a firm note, bucking the downtrend of last week with upbeat sentiment of investors," said Zenith Investments.
The gainers took a strong lead over the losers as out of 292 issues traded, 236 gained, 43 declined and 13 issues closed unchanged on the DSE floor.
All the major sectors saw green-food & allied was the top gainer positing 1.86 gain as BATBC - the large cap stock - gained 1.99 per cent alone following its first quarter earning declaration.
Activities increased in the major bourse (DSE) where volume and trade were up 24.96 per cent and 4.14 per cent respectively. A total number of 0.101 million trades were executed with 92.09 million securities of trading volume.
The total market capitalisation on the DSE stood at Tk 2,941.42 billion against Tk 2,918.97 billion in the previous trading session.
GP became the top turnover leader with shares worth Tk 491.33 million changing hands. The GP also disclosed its first quarter results. It was followed by Heidelberg Cement, Meghna Petroleum, Olympic Industries and Emerald Oil.
The port city bourse-Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index-CSCX gained 108.43 points to stand at 8,781.09 points.
