The market turned around Monday, after witnessing a big fall in the previous session, as investors took position on lucrative stocks.
Brokers said, "Although the market to close in green after five days, the investors remained followed cautious stance ahead of City Corporation Election".
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 24.00 points or 0.58 per cent to close the session at 4,118.48 points, after losing 278 points in the last five consecutive sessions.
The two other indices also closed in positive zone. The DS30 index, comprising blue chips gained 9.65 points or 0.61 per cent to close at 1,567.79 points. The DSE Shariah Index (DSES) rose 9.29 points or 0.20 per cent to close at 1,013.63 points.
However, trading at DSE remained sluggish. The total turnover came down to Tk 3.23 billion, which was 5.30 per cent lower over the previous session's value of Tk 3.41 billion.
"Market acted volatile ahead of the city corporation election. Mostly, investors remained cautious about the aftermath of this election," said LankaBangla Securities, a stock broker, in its regular market analysis.
"Selling pressure dominated the morning trade, however sellers got exhausted after five days of selling frenzy and investors came later to show buying interest on stocks," said the stock broker.
"Position taking stance from the market participants helped the prime bourse close in positive zone," said International Leasing Securities.
The bearish spell in recent sessions created lucrative buying opportunity in several stocks, upon which several investors might have started to take position, said the International Leasing.
IDLC Investments, a merchant bank, said, "After previous day's sharp fall, natural demand arose in the market fueled by lucrative prices in many stocks".
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