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Stocks posted a marginal gain on Thursday, extending the winning streak for third straight sessions, as bargain hunters continued their buying binge on sector-specific stocks.
DSEX, the core index of the Dhaka Stock Exchange (DSE), went up by 7.21 points or 0.14 per cent to settle at 4,869.
DSEX added more than 46 points in the past three straight sessions.
Market operators said investors continued their buying appetite on large-cap stocks amid a growing confidence in the market riding on regulatory moves to restore discipline in the country’s capital market.
The optimistic investors were active on the sector-specific stocks, particularly on general insurance sector stocks, helped the benchmark index to remain positive.
Top five positive index contributors of the market were Beximco, United Power, Reckitt Benckiser, Green Delta Insurance and Pragati Insurance.
The recent downturn on the market pulled down share prices of more than 80 companies to their floor prices which encouraged some investors to take a fresh position on lucrative stocks, said a merchant banker.
He noted that investors took advantage of low-priced shares created by a period of correction witnessed in the past few sessions.
Two other indices also edged higher. The DS30 index, comprising blue chips, gained 7.75 points to finish at 1,689 and the DSE Shariah Index advanced 1.60 points to close at 1,118.
The daily trade turnover on the DSE also rose to Tk 7.58 billion, which was 26 per cent higher than the previous day’s turnover of Tk 6.02 billion.
Gainers took a modest lead over the losers as out of 335 issues traded, 120 closed higher, 119 lower and 96 issues remained unchanged on the DSE trading floor.
A total number of 152,160 trades were executed in the day’s trading session with a trading volume of 277.75 million shares and mutual fund units.
The DSE market capitalization also rose to Tk 3905 billion on Wednesday, from Tk 3,904 billion in the previous day.
The insurance sector companies continued to dominate the turnover chart turnover with seven out of the top 10 turnover companies belong to the insurance sector.
Beximco Pharma topped the turn over list with 4.15 million shares worth Tk 579 million changing hands, followed by Beximco, Nitol Insurance, Green Delta Insurance and Mercantile Insurance.
Pragati Insurance was the day’s best performer, posting a gain of 9.98 per cent while GQ Ball Pen was the worst loser, losing 5.92 per cent following its ‘poor’ dividend declaration on Thursday.
The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—advancing 41 points to close at 13,961 while the Selective Categories Index – CSCX gaining 22 points to close at 8,406.
Of the issues traded, 101 advanced, 80 declined and 57 remained unchanged on the CSE.
The port city bourse traded 10.61 million shares and mutual fund units with turnover value around Tk 234 million.