Stocks ended higher for the second straight session Wednesday with turnover crossing Tk 6.0 billion-mark once again as investors focused on micro-cap and selective large-cap stocks.
Following previous sessions' gain, the market was almost 48 points up in the first 45 minutes of trade, but trickled down slightly amid fluctuations during the second half of the session.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 15.70 points or 0.33 per cent to close at 89-session high level of 4,663.13 points.
The other two indices also closed higher. The DS30, comprising blue chips gained 13.92 points or 0.78 per cent to close at 1,777.25 points. The DSE Shariah Index went up by 4.84 points or 0.44 per cent to close at 1,095.98 points.
Turnover at DSE remained vibrant, crossing Tk 6.0 billion-mark and amounting to Tk 6.36 billion. Total turnover improved by 21.9 per cent over the previous session's value.
The investors' activity was mostly concentrated on pharmaceuticals, engineering and fuel and power - the sectors that accounted for 21 per cent, 16 per cent and 10 per cent respectively of the day's total turnover.
"Investors' focus on micro cap and selective large cap stocks assisted the bourses to end in positive territory," commented IDLC Investments, in its regular market analysis.
Investors' sustaining preference to blue chip stocks aided DS30 to record at historical highest of 1,777.3 points, to return 21.2 per cent since its inception in January 2014, said the merchant bank.
LankaBangla Securities said: "Market rejuvenated with renewed position on stocks as investors got bullish aiming for higher target. After a short pit stop, the bull has hit on the months high in benchmark index".
Market seems to be heading towards its next resistance level of 4,700 points. After a little correction, some small cap, stocks gained substantial market capitalization, said the stock broker.
"The market encouraged and another upward session amidst major boost in market turnover as the investors except the bullish spell to stretch ever further," said International Leasing Securities.
The market's momentum shifted towards pharmaceuticals and engineering as the investors found profitable opportunities in various scrips within these sectors, said the International Leasing.
Among the sectors, IT sector is the top gainer with 4.7 per cent gain in market capitalization followed by NBFIs 2.62 per cent and cement 1.3 per cent.
Food and allied, pharmaceuticals and power also appreciated by 0.71 per cent, 0.59 per cent and 0.49 per cent respectively. Banks and telecommunication retraced by 0.15 per cent and 0.35 per cent respectively.
The gainers took a lead over the losers as out of 303 issues traded, 143 advanced, 122 declined and 38 remained unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where trade and volume were up 12.29 per cent and 23.59 per cent respectively. A total of 0.131 million trades were executed with 137.78 million securities of trading volume.
The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 33.39 points to close at 8,749.45 points.
Losers beat gainers 111 to 97, with 20 issues remaining unchanged at the port city bourse that traded 13.01 million shares and mutual fund units, turnover value of Tk 591.93 million.
