Turnover crosses Tk 3.0b-mark

Stocks posted modest gain Monday with turnover on the prime bourse crossing Tk 3.0 billion-mark after 13-session  as optimistic investors went for buying spree on large cap stocks.

The market opened with a positive note and the momentum continued till the market closure. DSEX, the benchmark index of the Dhaka Stock Exchange (DSE) ended at 4,394.94 points, gaining 20.75 points or 0.47 per cent.

The other two indices also closed positive. The DS30, comprising blue chips went up by 14.46 points or 0.90 per cent to close at 1,605.67 points. The DSES rose 7.44 points or 1.46 per cent to close at 991.71 points.

The total turnover stood at Tk 3.09 billion, registering an increase of 17.19 per cent over the previous session's value of Tk 2.63 billion.

"Strong demand for large caps, triggered by earnings expectations kept market sentiment upbeat," commented IDLC Investments, in its regular market analysis.

With the reaction to disclosed earnings and remaining earnings expectations, investors re-balanced their portfolio with injection of some fresh funds, too, said the merchant bank.

Investors continued eyeing on monetary policy statement (MPS), due early next week, said the merchant bank.

"Earning improvements in some specific sectors prompted the return of some investors on trading floor," the merchant bank added.

International Leasing Securities, said: "The market ended positively with the investors' attention towards lucrative price level. Investors' cantered their focus mainly on the GP".