Stocks extended the gaining streak Sunday as investors showed their buying appetite on sector-specific stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 27 points or 0.49 per cent to finish at 5,456 points.
DSEX recovered nearly 96 points in the two sessions after losing more than 423 points in the previous 13 consecutive sessions.
Analysts said the market stayed on the positive terrain for the second day as the institutional investors were slowly becoming active in the market after the securities regulator's move to stabilise the market.
Following the recent bearish market trend, the Bangladesh Securities and Exchange Commission (BSEC) held a meeting on Thursday with the capital market stakeholders to find out the reasons behind the bear run.
The regulator urged the stakeholders to play a supportive role for bringing back stability in the capital market.
When asked, DSE Brokers Association President Mostaque Ahmed Sadeque, who was present on Thursday's meeting, told the FE, "The institutional investors mostly refrained from aggressive selling after the meeting with securities regulator, helping the market close green."
He said it was too early to comment whether the market got back a stability.
"We have to wait for few more trading days as liquidity crisis in the banking sector remained a major concern," said Mr Sadeque, also managing director of Investment Promotion Services Limited.
He stressed on relaxing the banks' capital market exposure limit and increasing the capability of the state-run Investment Corporation of Bangladesh (ICB) to bring back long-term stability in the market.
The two other indices of the DSE also closed higher on the day. The DS30 index, comprising blue chips, advanced 8.31 points to finish at 2,023 and the DSE Shariah Index (DSES) gained 9.72 points to close at 1,269.
"Stocks witnessed another positive session in response to investors' expectation about a positive impact on the market ahead of the national budget declaration," commented EBL Securities, in its regular market analysis.
The non-bank financial institution sector posted highest gain of 2.60 per cent with heavyweight ICB's witnessing 5.83 per cent return to close at Tk 130.60 each.
Telecommunication, pharmaceuticals, banking and engineering sectors also saw positive returns, gaining 0.90 per cent, 0.60 per cent, 0.40 per cent and 0.20 per cent respectively.
Food & allied and power sectors fell 0.30 per cent and 0.20 per cent respectively.
Turnover, however, remained low as it stood on the DSE at Tk 4.46 billion, which was 5.72 per cent lower than the previous day's Tk 4.73 billion.
Out of 339 issues traded, 179 closed higher, 110 closed red and 50 issues remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) also finished higher with CSE All Share Price Index - CASPI- gaining 102 points to end at 16,832 and Selective Categories Index - CSCX -gaining 66 points to finish at 10,186.
The gainers beat losers as 130 issues closed higher, 74 lower and 26 remained unchanged on the CSE.
The port city bourse traded 7.14 million shares and mutual fund units worth more than Tk 130 million in turnover.
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