Stocks closed higher on Sunday, the first session after Eid holidays, as investors continued to show their buying appetite for sector-wise stocks.
Brokers said the stocks extended their winning spell for the fifth straight day, as the optimistic investors remained active in view of large-cap stocks amid growing optimism.
However, the presence of the investors was thin on the trading floor as many investors were yet to resume business in Dhaka after enjoying Eid in rural areas. Many of them made their trading orders on phone.
Trading and official activities on the bourses remained closed from August 21 to August 25 on the occasion of Eid-ul-Azha and weekly holidays.
The market witnessed choppy trading from the beginning of the day and then increased gradually as the session progressed.
Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 25.71 points or 0.46 per cent to settle at 5,596.
The DSEX gained about 218 points in the past five consecutive sessions.
"This significant positive movement in the index is mainly driven by positive change in the pharmaceuticals and power stocks," commented LankaBangla Securities, in an analysis.
Among the large cap sectors, pharmaceuticals showed the highest positive movement with 1.45 per cent gain, followed by power with 1.40 per cent and textile 1.10 per cent.
On the other hand, the banking sector posted the highest correction of 1.30 per cent, snapping the recent sharp rally. The non-bank financial institutions also lost 0.60 per cent.
According to the International Leasing Securities, the shaky investors booked profits on financial issues as these sectors posted substantial gains in the last few sessions.
But optimistic investors showed their buying appetite for large-cap stocks in the later part of the session.
The stockbroker noted that investors mostly took position for stocks with the June closing, including pharmaceutical, fuel & power, textile and food sector shares, anticipating better performance in the year-end financial disclosure.
The two other indices also closed higher. The DS30 index, comprising blue chips advanced 13.61 points to end at 1961 and the DSE Shariah Index rose 14.70 points to close at 1,272.
Turnover, another important indicator of the market, however, fell to Tk 4.20 billion, which was 5.62 per cent lower than the previous day's Tk 4.45 billion.
It was also the lowest turnover in 10 weeks since June 10 when the turnover was Tk 4.08 billion.
Investors' participation fell further as many of the investors were yet to resume their trading activities after the Eid vacation, said the stockbroker.
Of the 335 issues traded on the DSE trading floor, 200 ended higher, 107 closed lower and 28 issues remained unchanged.
Active Fine Chemicals topped the turnover chart with 6.41 million shares worth Tk 251 million changing hands, closely followed by LankaBangla Finance, BBS Cables, United Power and National Housing Finance.
Aziz Pipes was the day's best performer on the premier bourse, posting a gain of 8.43 per cent while National Life Insurance was the worst performer, losing 9.76 per cent.
The port city bourse CSE also closed higher with its CSE All Share Price Index - CASPI -soaring 99 points to settle at 17,210 and the Selective Categories Index - CSCX - advancing 60 points to finish at 10,422.
The gainers beat losers as 148 issues closed higher and 62 ended lower, with 23 issues remaining unchanged on the CSE.
The port city bourse traded 7.98 million shares and mutual fund units worth nearly Tk 210 million.
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