The market saw turnaround Wednesday with high volatility, after remaining down in the past two consecutive sessions as optimistic investors took position on lucrative stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 15.89 points or 0.35 per cent to close at 4,509.30 points after witnessing volatility throughout the session.
The two other indices also ended in green. The DS30 index, comprising blue chips gained 6.63 points or 0.38 per cent to close at 1,713.85 points. The DSE Shariah Index (DSES) advanced 6.02 points or 0.55 per cent to close at 1,096.77 points.
The total turnover on the DSE crossed Tk 3.0 billion-mark and amounted to Tk 3.50 billion, which was 37.3 per cent higher over the previous session's value of Tk 2.55 billion.
The investors' attention was mostly focused on pharma, cement and textile - the sectors that accounted for 25.3 per cent, 13.2 per cent and 11.3 per cent of the day's total turnover respectively.
Analysts said that a positive anticipation formed among the investors amid easing political situation and latest development in the political front centering city corporation elections.
"The softening in the political jolt helped the stock market to close in positive note amid the growing optimism," said International Leasing Securities, in its daily market analysis.
The market turnover also surged by 37.3 per cent from the previous session as investors appear to becoming optimistic and started to take position, said the International Leasing.
Price appreciation of telecommunication, power and pharma helped the market to surge the indices, it added.
LankaBangla Securities said: "The last trading session of the week was a bumpy one, but ended positively".
"There is an anticipation of opposition party taking part in upcoming city corporation election, which might stabilize the political unrest in the near future and boost the market sentiment," said the stock broker.
IDLC Investments said: "Market hovered around 4,500-mark level for third consecutive session, with uncertain price movements in majority of the stocks".
Turnover appreciated to Tk 3.50 billion, primarily backed by debutant Zaheen Spinning. The new member of textile industry also surged by 143 per cent from its issue price of Tk 10, capitalizing on impressive Q3 earnings, said the merchant bank.
Among the large-cap sectors, telecommunication gained a hefty 2.11 per cent. Power and pharmaceuticals appreciated 1.13 per cent and 0.99 per cent respectively. Both banks and food and allied sectors gained 0.08 per cent each.
The other major sectors closed in red. Cement experienced the highest loss of 0.92 per cent. NBFIs lost 0.42 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed in green with its Selective Categories Index - CSCX - gained 26.18 points to close at 8,338.35 points.
Losers beat gainers 113 to 85, with 25 issues remaining unchanged at the port city bourse that traded 8.83 million shares and mutual fund units, turnover value of Tk 611.51 million.
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