Stocks extended their gaining streak for the fourth straight session on Tuesday as the optimistic investors continued buying binge on major sector shares amid high hopes.
The market opened higher and the key index rose about 42 points within the one and a half hours of trading, but the rest of the session eroded most of the early gains amid profit booking tendency among investors.
Finally, DSEX, the prime index of the Dhaka stock exchange, went up by 24.85 points or 0.38 per cent to finish at 6,432.83. The DSEX added about 153 points in the past four trading days.
Turnover, a crucial indicator of the market, remained almos same and stood at Tk 17.69 billion on the country’s premier bourse, which was Tk 17.45 billion in the previous day.
Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 3.96 points to finish at 2,279 and the DSE Shariah index gained 2.93 points to close at 1,396.
Market operators said stocks extended the rally after volatile trading as the investors were active on both sides of the trading fence.
The floor price restriction contributed most in the recent price surge as many investors regained confidence over the market as it did not allow the index to fall below a certain level, said a leading broker.
He noted that the recent recovery signs on the macroeconomic front, particularly foreign exchange market stability, easing inflationary pressures, and slashing fuel prices kept the market afloat.
Gainers took a modest lead over the losers as out of 380 issues traded, 184 advanced, 123 declined and 73 issues remained unchanged on the DSE trading floor.
Beximco became the most-traded stock with shares worth Tk 929 million changing hands.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index (CASPI) gaining 69 points to settle at 18,898 and its Selective Categories Index (CSCX) rising 42 points to close at 11,326.
Of the issues traded, 148 advanced, 93 declined and 63 issues remained unchanged.
The port-city bourse traded 15.37 million shares and mutual fund units with turnover value of Tk 428 million.
