Stocks rebounded on Tuesday, the last session of August, snapping a three-day losing streak, as buoyant investors put fresh bets on major-sector shares amid positive expectations.
The market opened on a positive note and the upbeat trend sustained till the end of the session led by cement, general insurance, banking and food-sector stocks.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up 45.64 points or 0.66 per cent to settle at 6,869, after losing more than 61 points in the past three consecutive sessions.
DSE key index, however, surged 444 points or 6.91 per cent while the DSE market-cap added more than Tk 335 billion during the month of August.
Two other indices also ended higher on Tuesday with the DSE 30 Index, comprising blue chips, gaining 10.46 points to close at 2,453 and the Shariah Index (DSES) rising 6.04 points to stand at 1,490.
Turnover, another important indicator of the market, stood at Tk 22.49 billion on the country's premier bourse, which was 22 per cent higher than the previous day's one-month lowest turnover of Tk 18.46 billion.
Market analysts said bargain hunters put fresh bets on major-sector stocks after a three-day profit-booking sell-offs, taking the market indices in green territory.
Top positive index contributors were British American Tobacco, LafargeHolcim, Grameenphone, Walton and Beximco as they collectively contributed 27 points gain in DSEX, according to data from amarstock.com, a market data analyst.
The optimistic investors took position in cement, insurance, textile, food and engineering sectors which led the benchmark index closing higher, according to a stockbroker.
Most of the major sectors posted gain with cement seeing the highest gain of 3.40 per cent, followed by general insurance with 3.10 per cent, life insurance 3.10 per cent, textile 2.50 per cent, food 1.70 per cent and banking 0.30 per cent.
Mutual fund and power sectors lost 2.40 per cent and 0.60 per cent respectively.
The gainers took a strong lead over the losers as out of 376 issues traded, 225 advanced, 119 declined and 32 remained unchanged on the DSE trading floor.
Beximco - the flagship company of Beximco Group-topped the turnover list with shares worth Tk 1.16 billion changing hands, followed by LafargeHolcim (Tk 954 million), BATBC (Tk 641 million), Makson Spinning Mills (Tk 557 million) and Beximco Pharma (Tk 511 million).
Islami Insurance Bangladesh was the day's top gainer, posting a 10 per cent rise while Grameen One: Scheme Two was the worst loser, losing 14.28 per cent following its corporate declaration.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index - CASPI -soaring 153 points to settle at 19,997 and the Selective Categories Index - CSCX-- rising 86 points to close at 11,985.
Of the issues traded, 202 advanced, 100 declined and 25 remained unchanged on the CSE trading floor.
The port city's bourse traded 27.23 million shares and mutual fund units with turnover value of Tk 714 million.
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