Stocks posted a slight gain on Wednesday, snapping a four-day sharp decline, as bargain hunters showed their interest on low-priced securities.
DSEX, the prime index of the Dhaka Stock Exchange, settled at 4,512, advancing 5.45 points or 0.12 per cent, after losing 196 points in four straight sessions.
Market analysts said the higher-than-expected GDP growth news coupled with lucrative price level of fundamentally sound stocks attracted bargain hunters, taking the market in the green zone.
Bangladesh's gross domestic product ultimately grew at a record 8.15 per cent in fiscal 2018-19 - a slight 0.02-percentage point higher from a provisional estimation.
The optimistic investors were active on sector specific issues in pharma, power, engineering, financial institutions and banking sectors issues as their shares become lucrative following the recent correction, they said.
An analyst, however, said despite the market managed to close green, worries remained amid poor macroeconomic indicators, dearth of quality stocks and ongoing liquidity crunch in the banking sector.
He noted that continuing fall in the private sector credit growth, declining export earnings, poor tax revenue collection and heavy government bank borrowing kept most of the investors at bay.
Accordingly, total turnover of the Dhaka bourse dipped below Tk 3.0 billion once again on Wednesday.
Turnover, a crucial indicator of the market, fell to Tk 2.94 billion, which was 3.60 per cent lower over the previous day's turnover of Tk 3.05 billion.
The market opened on positive note and the key index of the prime bourse rose about 33 points within first hour of trading. But rest hour sale pressure wiped-out most of the initial gains.
Two other indices ended slightly higher. The DS30 index, comprising blue chips, advanced 3.77 points to finish at 1,552 and the DSE Shariah Index rose 5.16 points to close at 1,017.
According to UCB Capital, positive GDP growth rate has lifted microeconomic confidence, but higher inflation rate for the month of November evoked mixed reactions from the investors.
EBL Securities said the index witnessed a see-saw session as both the bargain hunter and shaky investors were active in the session, however, a section of investors took position on lucratively priced fundamental stocks.
The port city's bourse, the Chittagong Stock Exchange, also edged up with its All Shares Price Index (CASPI)-advancing 36 points to close at 13,720 and the Selective Categories Index - CSCX -gaining 22 points to finish at 8,324.
Here too, the losers beat gainers, as 105 issues closed lower, 91 ended higher and 36 remained unchanged on the CSE.
The port city bourse traded 7.99 million shares and mutual fund units worth Tk 237 million in turnover.
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