The market turned around Tuesday after three sessions' sharp fall with turnover remained sluggish as investors went for buying spree on newly listed stocks.
New issues continued to attract investors as three newly listed companies showed up in the top ten turnover chart while four newly listed stocks featured in the top gainers' list.
From the early morning, market showed strength. DSEX, the prime index of the Dhaka Stock Exchange went up by 35.55 points or 0.74 per cent to close at 4,804.45 points, after shedding 157 points in the past three consecutive sessions.
The other two indices also closed positive. The DS30, comprising blue chips gained 18.44 points or 1.05 per cent to close at 1,771.49 points. The DSE Shariah Index advanced 9.13 points or 0.82 per cent to close at 1,119.72 points.
Trading at DSE remained sluggish and hovering around Tk 3.0 billion-mark. The total turnover amounted to Tk 3.47 billion, registering a decline of 1.98 per cent over the previous session's Tk 3.54 billion.
The investors' attention was mostly focused on power, engineering and pharma - the sectors that for 16.49 per cent, 15.27 per cent and 14.61 per cent respectively of the day's total turnover.
"The market shrugged off its bearish vibe of the past three days with a positive session amidst the investors buying spree," said International Leasing Securities.
However, overall investors' participation indicated that the uncertainty over the market's turnaround is still existent among the investors, said the International Leasing.
Zenith Investments said: "A lot of junk shares are playing in the market suppressing the fundamentally strong shares which is common phenomenon whenever the market stays down".
"Investors have to trade cautiously and must take calculative decisions before making any investments," said the Zenith Investments.
"Despite squeezed trading volume, market took an up move Tuesday," said IDLC Investments in an analysis.
As the investors remained active only on selected scrips, the day's turnover was 45 per cent lower than the average turnover of November, said the merchant bank.
"The overall feeling seems to be mixed as the number of gaining stocks was 168 and number of losers was 93. The 'Z' category stocks also showed significant bullish movements," said Sheltech Brokerage.
Among the large cap sectors telecommunication retraced in the session losing 0.31 per cent. Food and allied closed flat in red with 0.03 per cent change.
The port city bourse, Chittagong Stock Exchange (CSE) also closes positive with its Selective Categories Index - CSCX - gained 27.12 points to close at 9,036.35 points.
Gainers beat losers 99 to 88, with 28 issues remaining unchanged at the port city bourse that traded 7.74 million shares and mutual fund units, turnover value of Tk 279.92 million.
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