Stocks returned to the green territory on Thursday, after a single-day break, as bargain hunters went on a buying binge targeting selective large-cap issues based on corporate declarations.
DSEX, the key index of the Dhaka Stock Exchange (DSE), edged up 22.51 points or 0.45 per cent to settle at 4,942, after shedding 8.41 points the previous day.
Two sub-indices also closed higher. The DS30 index, comprising blue chips, advanced 19.21 points to finish at 1,725 and the DSE Shariah Index gained 5.62 points to close at 1,120.
Turnover, a crucial indicator of the market, stood at Tk 9.28 billion, 13 per cent up from the previous day's turnover of Tk 8.20 billion.
Market operators said bargain hunters showed their buying appetite for sector-specific large-cap issues based on latest corporate declarations, pushing the market index to the green territory.
Five large-cap stocks -- Grameenphone, Investment Corporation of Bangladesh, British American Tobacco, Square Pharmaceuticals and Brac Bank -- contributed the most to the rise in DSEX.
Investors mostly focused on stocks declaring satisfactory dividend and quarterly earnings, said a merchant banker.
Buoyed by some positive macro-economic indicators, the investors went on a buying binge, he noted.
According to the International Leasing Securities, good performance by the listed banks, as shown in the latest earnings, has encouraged the investors to go for banking sector shares, which helped the index go up.
As the July-September quarter's earnings results indicate improving earning scenario for the listed companies compared to the previous quarter, investors are optimistic about an economic turnaround, commented EBL Securities.
However, export de-growth in the month of October raised concern that economy can be adversely impacted if the Covid-19 situation in Europe, the major export destination, gets worsened, said the stockbroker.
Of the major sectors which posted gains on the DSE on Thursday, telecommunications witnessed the highest gain of 2.30 per cent, followed by engineering (2.20 per cent), non-bank financial institutions (1.70 per cent), food (0.90 per cent) and banking (0.20 per cent).
Losers, however, took a modest lead over the gainers, as out of 358 issues traded, 146 ended lower, 120 closed higher while 92 issues remained unchanged on the DSE trading floor.
A total of 179,615 trades were executed in the day's trading session with a trading volume of 326.80 million shares and mutual fund units.
The market capitalisation of DSE rose to Tk 3,980 billion on Thursday from Tk 3,949 billion the previous day.
Beximco Pharma continued to dominate the turnover chart, with shares worth Tk 954 million changing hands, closely followed by Beximco, Brac Bank, Peoples Insurance and Shinepukur Ceramic.
Associated Oxygen was the day's best performer, posting a gain of 27.41 per cent following its corporate declaration while International Leasing & Financial Services was the worst loser, shedding 13.43 per cent as it declared 'no' dividend.
The Chittagong Stock Exchange (CSE) also closed higher with its All Shares Price Index (CASPI) gaining 74 points to close at 14,188 while the Selective Categories Index (CSCX) advancing 46 points to close at 8,536.
Of the issues traded, 108 declined, 100 advanced and 48 remained unchanged on the CSE.
The port city bourse traded 13.05 million shares and mutual fund units with turnover value of Tk 332 million.
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