Stocks backed to the green on Thursday, snapping a three-day losing streak, as bargain hunters showed their buying appetite on large-cap shares.
Analysts said the market edged up as the optimistic investors took position on stocks that saw sharp correction in the recent market erosion.
Positive support of institutional investors including state-run Investment Corporation of Bangladesh (ICB) also played a vital role to close the in the positive note, said a leading broker.
He noted that the news that the Ministry of Finance (MoF) has sought opinions from the central bank and the securities regulator on a loan amount of Tk 100 billion sought by stock brokers to shore up the moribund stock market also encouraged some investors to the market.
The market opened on positive note and the key index soared more than 50 points within 40 minutes of trading. But rest of the session lost some early gains.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 38.88 points or 0.88 per cent to settle at 4,456, after losing97 points in the past three sessions.
The DS30 index, comprising blue chips, also gained 14.77 points to finish at 1,513. The DSE Shariah Index added 11 points to close at 997.
Turnover, another important indicator of the market, stood at Tk 2.767 billion, which was 8.66 per cent higher than the previous day’s six-month low turnover of Tk 2.54 billion.
The gainers took a strong lead over the losers as out of 351 issues traded, 206 closed higher, 91 ended lower and 54 issues remained unchanged on the DSE trading floor.
A total number of 101,118 trades were executed in the day's trading session with trading volume of 107.61 million securities.
The market capitalisation of the DSE also rose to Tk 3,396 billion on Thursday, from Tk 3,373 billion in the previous session.
Genex Infosys topped the turnover chart with shares worth Tk 114 million changing hands, followed by Khulna Power, Ring Shine textiles, Beacon Pharma and Sonar Bangla Insurance.
Pragati Life Insurance was the day’s best performer, posting a gain of 9.92 per cent while Shympur Sugar mills were the day’s worst loser, shedding 7.50 per cent.
The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index - CASPI -advancing 97 points to settle at 13,537 and the Selective Categories Index - CSCX –gaining 59 points to finish at 8,210.
Here too, the gainers beat the losers as 137 issues closed higher, 67 ended lower and 34 remained unchanged.
The port city bourse traded 6.32 million shares and mutual fund units worth Tk 191 million in turnover.
