Dhaka stocks rebounded on Tuesday, snapping a six-day losing streak as optimistic investors went on buying spree.
Analysts said some investors showed their buying appetite on sector-specific sectors, especially banking, financial institutions and power, taking the market to green zone.
Following the six-day correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw some volatility in the first hour of the day's session, before rising.
DSEX advanced more than 33 points while the CSE All Share Price Index gained 121 points at closing.
DSEX, the core index of the DSE, settled at 5,346, gaining 33.10 points or 0.62 per cent after losing 143 points in the past six straight sessions.
According to EBL Securities, the optimistic investors opted to take position and some rebalanced their portfolio, driven by positive expectations in the upcoming national budget.
The two other indices also edged higher. The DS30 index, comprising blue chips, advanced 7.42 points to finish at 1,980 and the DSE Shariah Index (DSES) rose 8.01 points to close at 1,243 points.
"The investors took position on the lucrative price level in different stocks that spurred the bourse to nudge higher," commented International Leasing Securities.
The market activities, however, fell below Tk 4.0 billion level again and amounted to Tk 3.82 billion, which was 5.0 per cent lower than the previous day's Tk 4.02 billion.
Overall activities remained confined on textile, engineering and pharmaceuticals sectors, where they captured 19 per cent, 16 per cent and 13 per cent respectively of the day's total turnover.
Most of the major sectors showed positive movement with financial institutions posting the highest gain of 0.95 per cent, followed by pharmaceuticals 0.90 per cent.
Engineering, banking, power and food & allied sectors also gained 0.80 per cent, 0.80 per cent, 0.40 per cent and 0.20 per cent respectively.
Only telecommunication showed negative movements with 0.42 per cent loss.
The gainers took a modest lead over the losers as out of 334 issues traded, 163 advanced, 106 declined and 65 issues remained unchanged on the DSE trading floor.
Alif Industries topped the day's turnover chart with 1.92 million shares worth nearly Tk 200 million changing hands, closely followed by Monno Ceramic Industries, Beximco, Shasha Denims and Square Pharmaceuticals.
The top ten gainer list was continued to dominate by the small-cap stocks with BD Autocars being the day's best performer for the second straight session, posting a gain of 9.30 per cent.
MBL 1st Mutual Fund was the day's worst loser, plunging by 9.30 per cent.
The port city's bourse, Chittagong Stock Exchange (CSE) also ended higher with CSE All Share Price Index - CASPI - advancing 112 points to finish at 16,482 points.
The Selective Categories Index - CSCX - also gained 68 points to settle at 9,969 points.
Gainers beat losers as 118 issues closed higher, 78 lower and 33 remained unchanged on the CSE.
The port city bourse traded 4.88 million shares and mutual fund units worth more than Tk 174 million in turnover.
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