The last trading session of the outgoing fiscal year ended higher, extending the gaining streak for the third straight sessions Tuesday as tax rebate investment persisted in the market.
Meanwhile, trading on both bourses - Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) will remain closed today (Wednesday) due to Bank Holiday.
The market opened higher in the morning throughout the session. DSEX, the prime index of the DSE, went up by 51.12 points or 1.12 per cent to settle at 4,583.10.
The two other indices also ended higher. The DS30 index, comprising blue chips, rose 17.35 points or 0.99 per cent to finish at 1,769.36. The DSE Shariah Index (DSES) gained 10.37 points or 0.93 per cent to end at 1,122.03.
Turnover, the most indicator of the market, crossed Tk 5.0 billion-mark again and amounted to Tk 5.90 billion, which was 38 per cent higher than the previous day's Tk 4.28 billion. It was also three-week highest turnover.
The investors' attention was mostly focused on pharma, food and allied and engineering - the sectors that accounted for 17.50 per cent, 12.21 per cent and 12.02 per cent of the day's total turnover.
"Mounting buying pressure due to tax rebate investment pulled up the market on the last day of fiscal year 2014-2015," said IDLC Investments, a merchant bank, in an analysis.
Finance Bill 2015 was duly passed in parliament with some specific adjustments. Hence, DSEX absorbed the last stance of June-impact, adding 51.1 points more while turnover increased considerably, said the stockbroker.
Meanwhile, the DSE broad index, DSEX rose around 103 points or 2.3 per cent during FY 2014-15, while turnover averaged to Tk 4.7 billion.
LankaBangla Securities, a stockbroker, said, "Market upheld the gaining momentum with higher participation and the benchmark index gained 51.12 points reaching closed to the next psychological resistance of 4,600".
Multinational stocks were in a buying spree. Heavyweight stocks were in the turnover leader's list, with BATBC, Lafarge Surma Cement and GP gaining 5.0 per cent, 1.7 per cent and 1.4 per cent respectively, said the stockbroker.
"The country's capital market retained its upbeat trend for the consecutive three sessions, along with increasing participation from the investors," said International Leasing Securities, a stock broker, in an analysis.
Large-cap stocks from most of the major sectors performed well. The regulatory decision on the abolition or conversion of the mutual fund brought the sector to the investors' attention, said the stockbroker.
All large-cap sectors yield edpositive return except NBFIs which saw 0.67 per cent correction after witnessing 3.69 per cent gain in the previous session.
Food and allied posted a hefty gain of 3.92 per cent as the heavy height constituent of the sector BATBC appreciated by 5.0 per cent alone.
Among the other sectors power, cement sectors also gained 1.90 per cent and 1.30 per cent respectively. Banks and telecommunication both went up by same 1.22 per cent while pharmaceuticals also closed 0.61 per cent higher.
The gainers took a strong lead over the losers as out of 319 issues traded, 217 advanced, 69 declined and 33 remained unchanged on the DSE trading floor.
Activities increased in the major bourse where volume and trade were up by 23.63 per cent and 54 per cent respectively. A total number of 0.125 million trades were executed with trading volume of 149.70 million securities.
The market capitalization on DSE stood at Tk 3,212.38 billion against Tk 3,188.66 billion in the previous trading session.
BATBC was the day's top turnover leader with shares worth Tk 327.46 million changing hands followed by Lafarge Surma Cement, GP, United Airways and Square Pharma.
Tosrifa Industries was the day's best performer, posting a rise of 9.88 per cent while First Bangladesh Fixed Income Fund was the day's worst loser, plunging by 9.45 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index - CSCX - gained 109.37 points to close at 8,586.21 points.
Gainers beat losers 164 to 51, with 31 issues remaining unchanged at the port city bourse that traded 14.31 million shares and mutual fund units, turnover of Tk 397 million.
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