Stocks extended their winning spell for the two consecutive sessions Tuesday as optimistic investors went on late hours buying spree on lucrative stocks.
Analysts said the market recovery continued despite day-long volatility as some enthusiastic investors went on late hours buying spree, especially on bank, textile and financial institutions.
After witnessing volatility throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 5,392.10, advancing 29 points or 0.54 per cent over the previous day.
"Although, sell pressure intensified at times, during the session, buyers remained in the market mopping up the supply," commented IDLC Investments, an asset management company, in its regular market analysis.
The two other indices also edged higher. The DS30 index, comprising blue chips advanced 5.41 points or 0.27 per cent to settle at 1,967.26. The DSE Shariah Index (DSES) gained 3.78 points or 0.30 per cent to close at 1,261.08.
Turnover, the important indicator of the market, rose to Tk 6.20 billion, which was 7.64 per cent higher than the previous day's two-and-a-half month's lowest turnover of Tk 5.76 billion.
"Increase in turnover can be largely attributed to activities in debutant Pacific Denims, which contributed about 10 per cent of the day's total turnover," said IDLC Investments.
Pharmaceuticals sector continued to lead turnover chart, capturing 19 per cent of the day's total turnover value, closely followed by textile 17 per cent and bank 16 per cent.
EBL Securities, a stockbroker, said, "The morning downswing reversed as the optimistic investors continued their buying spree in sector specific lucrative stocks, especially from bank, financial institution and pharmaceutical sectors".
All the large-cap sectors showed positive performance except food and allied and telecommunication, which lost 0.31 per cent and 0.11 per cent respectively.
The banking sector posted the highest gain of 1.71 per cent, followed by NBFIs 0.72 per cent, engineering 0.25 per cent, pharmaceuticals 0.10 per cent and fuel and power 0.07 per cent.
The gainers took a strong lead over the losers as out of 326 issues traded, 180 advanced, 107 declined and 39 remained unchanged on the DSE floor.
The newly listed Pacific Denims dominated the turnover chart with 22.75 million shares worth Tk 627 million changing hands, followed by ACI Formulations, Central Pharmaceuticals, Islami Bank and Beximco.
ICB AMCL Second Mutual Fund was the day's top gainer, positing a rise of 8.0 per cent while Dulamia Cotton was the worst loser, slumping by 5.88 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index - CSCX - advancing 45.48 points to settle at 10,090.84.
Gainers beat losers as 128 issues closed higher, 89 closed lower and 20 remained unchanged on the CSE.
The port city bourse traded 16.14 million shares and mutual fund units' worth above Tk 444 million in turnover.
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