Stocks rebounded on the gaining streak Monday, after a single-day break, thanks to the increased participation of investors in the state-run listed firms.
After witnessing high volatility in the first hour of trading, the rest of the session went up steadily as bargain hunters put fresh bets on selective stocks.
The DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 61.54 points or 0.88 per cent to 6,994, after losing more than 54 points in the previous day.
Turnover, a crucial indicator of the market, stood at Tk 14.87 billion, which was 1.78 per cent higher than the previous day's tally of Tk 14.61 billion.
Some institutional investors, including the state-run Investment Corporation of Bangladesh, supported the market from the front, taking the index and turnover higher, according to a merchant banker.
He noted that investors mostly focused on state-run listed companies' shares amid high expectations.
"Buoyancy in power, financial institutions, telecommunication, engineering, pharma and food sectors led the benchmark index to close higher," he said.
Most of the general investors, however, remained on the sidelines owing to worries over the adverse impact of the new coronavirus variant, he said.
The state-run companies such as Power Grid Company, Titas Gas, Bangladesh Submarine Cable and Bangladesh Shipping Corporation witnessed a considerable rise in price based on investors' increased interest in these profit-making companies, commented EBL Securities.
Five large-cap stocks such as ICB, Robi, Power Grid Company, Titas Gas and Beximco jointly accounted for 36 points rise of the DSEX, according to amarstock.com, a market data analyst.
Two other indices also nudged higher. The DSE 30 Index, comprising blue chips, advanced 27.42 points to finish at 2,606 and the DSE Shariah Index (DSES) gained 12.54 points to close at 1,480.
Major sectors posted gains with the power sector posting the highest gain of 2.65 per cent, followed by financial institutions (2.17 per cent), telecom (1.05 per cent), engineering (0.82 per cent), pharma (0.46 per cent), and food (0.15 per cent).
On the other hand, general insurance, mutual fund and banking sectors lost 0.70 per cent, 0.70 per cent and 0.20 per cent respectively.
Gainers took a modest lead over the losers, as out of 377 issues traded, 178 advanced, 158 declined and 41 remained unchanged on the DSE trading floor.
The state-run Power Grid Company, which gained 9.73 per cent, was the most traded stock with shares worth Tk 1.01 billion changing hands, followed by Beximco (Tk 943 million), Bangladesh Shipping Corporation (Tk 656 million), Bangladesh Submarine Cable (Tk 562 million) and Fortune Shoes (Tk 510 million).
Popular Life Insurance was the day's highest gainer, soaring 10 per cent while Dhaka Dyeing was the day's worst loser, losing 6.12 per cent.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index - CASPI -gaining 166 points to settle at 20,477 and the Selective Categories Index - CSCX-- rising 101 points to close at 12,300.
Of the issues traded, 140 advanced, 127 declined and 38 remained unchanged on the CSE.
The port-city bourse traded 13.10 million shares and mutual fund units with a turnover value of Tk 448 million.
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