Dhaka stocks returned to the green Tuesday after previous session's marginal correction with turnover falling further ahead of prolonged Eid vacation, spurred by financial stocks.
Only two trading sessions are left before Eid vacation. The Dhaka Stock Exchange (DSE) is going to a 9-day long Eid vacation, including weekly holidays from October 3.
The market opened with a negative mood, but gradually it went to positive territory amid fluctuations. DSEX, the prime index of the DSE moved up 23.96 points or 0.47 per cent to close at 5,074.30 points.
The DS30, comprising blue chips, gained 2.77 points or 0.14 per cent to close at 1,960.87 points. However, the DSE Shariah Index slipped 1.91 points or 0.15 per cent to close at 1,195.52 points.
Total turnover at DSE dipped below Tk 9.0 billion-mark after seeing heavy trading in the last nine sessions. The total turnover amounted to Tk 8.79 billion, registering a decline of 2.55 per cent over the previous session's value of Tk 9.02 billion.
The investors' attention was remained focused on power, pharmaceuticals and engineering - the sectors that accounted for 20 per cent, 13 per cent and 12 per cent respectively of the day's total turnover.
"Market revived after last session's sluggishness, while large cap dominated the turnover," commented IDLC Investments, in its regular market analysis.
"The investors remained cautious before Eid vacation, which will start from the next week, while some opted for profit booking to re-balance the portfolio before going for a week-long vacation," said the merchant bank.
LankaBangla Securities said: "Market passed a shining day as investors showed their appetite once again for high yielding stocks. Investors have showing their buying interest evading the selling pressure on stocks".
"The market regained some footing after previous day's uncertainty in large cap stocks among the major sectors," said International Leasing Securities.
The market witnessed sideways movement within various sectors as the investors are realising their profit from telecommunication and pharmaceuticals sectors while relocating their funds bank and June-ending issues from fuel and power sector, it said.
However, the port city bourse, Chittagong Stock Exchange (CSE) closed marginally lower with its Selective Categories Index - CSCX - lost 12.02 points to close at 9,463.87 points.
Losers beat gainers 106 to 92, with 25 issues remaining unchanged at the port city bourse that traded 13.59 million shares and mutual fund units, turnover value of Tk 536.78 million
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