Dhaka stocks saw a glowing session on Thursday, the last trading day of the week, with the price indices snapping the recent bearish trend.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), remained positive throughout the day. It gained 68.60 points or 1.33 per cent before settling at 5,429 points.
It was the highest single-day gain in nearly two months since April 2, when the DSEX soared 80 points.
The investors were active from the beginning of the session. They showed the buying appetite throughout the session following some volatility in the first hour.
Dealers said the market bounced back as opportunistic investors showed their buying appetite for stocks that saw significant correction in the recent market fall.
Out of 17 trading sessions, the market closed lower in 15 sessions and the DSEX eroded more than 475 points.
The capital market stakeholders, including the chief of top brokers, asset management companies and merchant bankers sat on Thursday in an emergency meeting. They discussed the ongoing bearish market situation.
"The news also played a vital role in helping the market bounce back," said a stockbroker.
The two other indices also ended higher. The DS30 index, comprising blue chips, advanced 26.45 points to finish at 2,015. The DSE Shariah Index (DSES) rose 8.48 points to close at 1,260.
"The investors took position with the price level of different stocks remaining lucrative, especially the banking sector, that spurred the bourse to nudge higher," commented the International Leasing Securities, in its regular market analysis.
The turnover, however, remained low. The total turnover on the DSE amounted to Tk 4.73 billion, 3.08 per cent lower than the previous day's Tk 4.88 billion.
"Total turnover remained almost flat over the last session as many investors were reluctant to take fresh position amid recent volatile market trend," the International Leasing Securities said.
The engineering sector topped the turnover chart. The sector accounted for 19 per cent of the day's total turnover, followed by textile with 15 per cent and power 12 per cent.
All the large-cap sectors showed positive performance except power and telecommunication.
The banking sector posted the highest gain of 2.35 per cent. It was followed by food & allied with 1.21 per cent, engineering 1.20 per cent, non-bank financial institutions 0.69 per cent and pharmaceuticals 0.52 per cent.
According to EBL Securities, the investors opted to take fresh position expecting better performance of the market ahead of the budget declaration.
The gainers took a strong lead over the losers. Out of 333 issues traded, 208 closed higher, 84 closed in the red and 41 issues remained unchanged on the DSE trading floor.
Intraco Refueling Station was the day's turnover chart leader with 5.31 million shares worth Tk 290 million changing hands.
It was followed by Miracle Industries, Bangladesh Steel Re-rolling Mills, BRAC Bank and Advent Pharma.
HR Textile was the day's best performer, posting a gain of 9.95 per cent. Southeast Bank was the day's worst loser, plunging by 11.69 per cent.
The Chittagong Stock Exchange (CSE) also ended higher. The CSE All Share Price Index (CASPI) advanced 138 points to settle at 16,749 and the Selective Categories Index (CSCX) rose 86 points to finish at 10,132.
Gainers beat losers as 132 issues closed higher, 64 lower and 22 remained unchanged on the CSE.
The port city bourse traded 6.45 million shares and mutual fund units worth more than Tk 183 million.
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