Stocks rallied for the third running sessions Monday with prime index of the Dhaka Stock Exchange (DSEX) hitting six months high level as investors remained upbeat on bank stocks.
The heavyweight banking sector led the rally as the trading of largest market capitalisation bank, Islami Bank was halted on high demand. The banking sector posted a gain of 2.81 per cent. Twenty three banks closed green, two lower while five remained unchanged out of 30.
The market opened higher which sustained throughout the session. DSEX, the prime index of the DSE, soared 60.52 points or 1.26 per cent to settle at 4,862.55. It was the six months highest level of DSEX since January 19, when DSEX was 4,867.08.
The two other indices also closed higher. The DS30 index, comprising blue chips, rose 15.60 points or 0.82 per cent to finish at 1,901.50. The DSE Shariah Index (DSES) gained 10.40 points or 0.87 per cent to end at 1,203.12.
Turnover remained vibrant and the total turnover amounted to Tk 8.11 billion on DSE, which was 0.64 per cent higher than the previous session's Tk 8.06 billion.
The investors kept their attention on engineering, power and pharma - the sectors that accounted for 21 per cent, 20 per cent and 13 per cent of the day's total turnover.
LankaBangla Securities, a stockbroker, said, "Index leaped up 1.26 per cent supported by the banking and fuel and power stocks".
Market saw a consolidation phase in past few trading sessions which broke out in the upward direction, said the stock broker.
"Investor's addressed special attention on the stocks that announced sound earnings declaration in recent period," said International Leasing Securities, a stockbroker, in an analysis.
The stockbroker noted that buying of shares in issues from bank, power and telecommunication sectors mainly helped the bourse to surge in the indices.
According to Sheltech Brokerage, the market is now trading above the 200 days weighted moving averages of 4587.7, which is a significant indication of an upcoming bull run. The day's market relative strength index was 75.64.
IDLC Investments, a merchant bank said, "The day's session was upbeat from the very beginning as investors eyed for reversal. As the day passed, activities started rising with up tick trades".
All large-cap sectors went up except cement which went down by 0.37 per cent. In the financial sector, banks posted a heavy gain of 2.81 per cent and NBFIs appreciated by 0.40 per cent. Power and telecommunications advanced by significant 1.29 per cent and 1.02 per cent respectively.
Food and allied gained 0.82 per cent and pharmaceuticals advanced by a meager 0.18 per cent.
The market breadth remained positive as out of 319 issues traded, 201 closed higher, 82 lower and 36 remained unchanged on the DSE trading floor.
Activities increased in the major bourse where trade and volume were up by 2.35 per cent and 6.53 per cent respectively. A total number of 0.167 million trades were executed with trading volume of 207.39 million securities.
The market capitalisation on DSE stood at Tk 3,403.10 billion against Tk 3,372.02 billion in the previous trading session.
Appollo Ispat Complex was the day's top turnover leader with shares of Tk 291 million changing hands followed bySquare Pharma, Lafarge Surma Cement, Beximco Pharma and Jamuna Oil.
Beach Hatchery was the day's best performer, posting a rise of 10 per cent while First Bangladesh Fixed Income Fund was the day's worst loser, plunging by 5.13 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 98.18 points to close at 9,076.18.
Gainers took a strong lead over the losers as out of 257 issues traded, 149 advanced, 80 declined and 28 remained unchanged on the port city bourse. A total of 17.51 million shares and mutual fund units were traded with a value of Tk 616 million.
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Stocks extend rally on bank issues
FE Report | Published: August 04, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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