Turnover on the Dhaka Stock Exchange hit a six-month high yesterday with the stocks ending in black for the fifth consecutive session, implying an increased interest in buying.
Turnover, the most important indicator of the market, advanced almost 30 percent to Tk 763.90 crore, also crossing the Tk 700 crore level for the first time in the last six months. The premier bourse's turnover stood at Tk 770.40 crore on February 2.
DSEX, the benchmark index of DSE, also hit a three-month high at 4,530.83 points, after registering 1 percent or 44.64 points gain. DSES, the shariah index of the premier bourse, rose 20.92 points or 2.03 percent to finish the week's first trading day at 1,047.02.
Stable macro-economic indicators like foreign exchange reserves crossing $22 billion and the appreciation trend of the taka put a positive psychological impact on investors, IDLC Investments said.
Investor confidence remained high as evidenced by sustainable increase in participation in terms of turnover in the last few sessions, the merchant bank added.
Large-cap centric trading pattern formed the bulk of turnover upshot, with the top ten capturing 38.77 of yesterday's trade, it added.
“Heavyweight stocks extended their rally further with increased buying interest,” the stockbroker said in its regular market analysis.
Telecommunication continued its gaining streak with 2.97 percent rise, while cement sector increased by 2.91 percent.
Conversely, life insurance with 1.32 percent fall and banks with 0.81 percent decline disappointed investors the most.
Gainers beat losers 165 to 100, with 34 securities remaining unchanged on the DSE.
MJL Bangladesh dominated the turnover chart with 67.40 lakh shares worth Tk 67.81 crore changing hands, followed by Square Pharma, Grameenphone, Active Fine Chemicals and Beximco.
Shahjibazar Power Company was the day's best performer, advancing 9.98 percent, and ICB 1st NRB Mutual Fund was the worst loser, slumping 8.27 percent.
Chittagong stocks also gained yesterday, with the benchmark CSCX increasing by 82.73 points, finishing the day at 8,575.2.
Gainers dominated losers 116 to 91, with 21 securities remaining unchanged on the Chittagong Stock Exchange.
The port city bourse traded 1.41 crore shares and mutual fund units, generating a turnover of Tk 78.53 crore.