Stocks ended marginally higher on Sunday, snapping a four-day losing streak, as bargain hunters showed their buying interest in the sector-wise issues at lucrative prices.
The market witnessed see-saw movement several times before closing higher amid increased participation of investors.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 21.21 points or 0.31 per cent to settle at 6,662, after losing 130 points in the past four consecutive sessions.
Two other indices also edged higher with the DSE 30 Index, comprising blue chips, rising 6.92 points to finish at 2,458 and the DSE Shariah Index (DSES) advanced 6.20 points to close at 1,459.
Turnover, the crucial indicator of the market, also crossed Tk 6.0 billion-mark and amounted to Tk 6.43 billion, which was 25 per cent higher than the previous day's tally of Tk 5.15 billion.
However, the DSE SME Platform Index - DSMEX -lost 107 points or 7.27 per cent to close at 1,371, as all nine companies traded on the platform fell after the securities regulator reduced the circuit breaker limit for the SME companies.
The Bangladesh Securities and Exchange Commission (BSEC) cut the circuit breaker limit to 10 per cent from 20 per cent on the trading of firms listed on the SME Platform, effective from Sunday.
Following the news, all nine companies traded on the DSE SME Platform suffered losses after the recent steep rise. Share prices of the companies fell between 3.96 per cent and 9.69 per cent on Sunday.
Market insiders said optimistic investors revealed their buying interest on major sector issues as many stocks became lucrative following the recent price erosion.
"The market rebounded as some individual and institutional investors have shown their positive attitude towards the market," said a merchant banker.
Support from some institutional investors, including state-run Investment Corporation of Bangladesh, also helped the market index and turnover rise higher, he said.
Large-cap stocks such as Square Pharma, Grameenphone, Walton, United Power, BRAC Bank, City Bank and IPDC Finance jointly contributed about 13 points rise to DSEX, according to amarstock.com, market data analyst.
Stocks closed in the green reversing from the last four day's downtrend, but investors' remain cautious due to concerns over the macroeconomic scenarios led by global price instabilities, said the EBL Securities.
The investors increased their participation as they want to grab the opportunity of future gain by purchasing cheaper stocks, according to International Leasing Securities.
The optimistic investors were active on major sector issues, particularly in financial institutions, power, pharma and general insurance as their shares became lucrative following the recent steep correction, said a leading broker.
Among the major sectors, financial institutions, general insurance, power, pharma and engineering gained by 0.90 per cent, 0.70 per cent, 0.50 per cent, 0.50 per cent and 0.10 per cent respectively.
On the other hand, cement, banking, telecom and food sectors lost 0.80 per cent, 0.20 per cent, 0.20 per cent and 0.10 per cent respectively.
Gainers took a modest lead over the losers, as out of 379 issued traded, 217 advanced, 110 declined and 52 remained unchanged on the DSE trading floor.
Beximco topped the turnover list with shares worth Tk 363 million changing hands, closely followed by Provati Insurance (Tk 347 million), IPDC Finance (Tk 318 million), Genex Infosys (Tk 283 million) and Fortune Shoes (Tk 196 million).
The newly listed JMI Hospital Requisite Manufacturing continued to top the gainer list for the seventh straight session, posting a 9.91 per cent gain while Pubali Bank was the day's worst loser, shedding 3.58 per cent following its corporate declaration.
The Chittagong Stock Exchange (CSE) also edged higher after four days with the CSE All Share Price Index - CASPI -gaining 42 points to settle at 19,544 and the Selective Categories Index - CSCX - rose 25 points to close at 11,725.
Of the issues traded, 115 advanced, 110 declined and 36 issues remained unchanged on the CSE.
The port-city bourse traded 5.14 million shares and mutual fund units with turnover value worth Tk 156 million.
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