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Stocks rebounded strongly on Sunday after recent bearish mood as optimistic investors went on buying spree - especially riding on banking and telecommunication issues.
Analysts said investors became optimistic as the country’s political tension eased to some extent and the premier bourse approved the proposal of Chinese consortium to be a strategic partner.
An analyst at a leading brokerage firm said, “The market returned to higher as investors showed their buying appetite on large-cap sectors, especially bank and telecommunication issues, taking the DSEX above 6,000-mark once again.”
The market opened on a higher note and the upbeat trend sustained till the end of the session with no sign of reversal – finally ending more than 128 points higher.
DSEX, the core index of the DSE, which replaced the DGEN five years back, settled at 6,094, after soaring 128 points or 1.15 per cent compared to the previous session.
Two other indices also ended higher – with the DS30 index, comprising the blue-chips, advancing 30 points or 1.36 per cent to finish at 2,256 while the DSE Shariah Index (DSES) also rising 1.64 points or 1.64 per cent to close at 1,412.
The bullish sentiment was also reflected on the turnover activities as DSE’s total turnover rose to Tk 4.55 billion, which was 52 per cent higher compared to the previous session.
Gainers took a strong lead over losers as out of 334 issues traded, 293 closed higher, 27 closed red and 14 issues remained unchanged on the DSE trading floor.
LankaBangla Finance topped the day’s turnover chart with 5.13 million shares worth Tk 220 million changing hands, followed by Anwar Galvanising, Square Pharmaceuticals, Monno Ceramic Industries and Mercantile Bank.
Miracle Industries was the day’s best performer – posting a gain of 9.94 per cent while Asia Insurance was the day’s worst loser – thereby losing by 5.88 per cent.
Chittagong Stock Exchange (CSE) also closed higher with CSE All Share Price Index – CASPI – rising 408 points to finish at 18,836.
The Selective Categories Index - CSCX – also gained 242 points to settle at 11,371.
Gainers beat losers here too as 226 issues closed higher, 13 lower and 7 remained unchanged.
The port city bourse traded 9.11 million shares and mutual fund units worth over Tk 226 million in turnover.