The stock market ended higher on Sunday, maintaining the winning streak for the fourth straight session, as investors put fresh bets on selective large-cap stocks.
The market started on a positive note and the upbeat trend sustained until the end of the session with no signs of reversal, eventually closing over 40 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 40.77 points or 0.58 per cent to settle at 7,064. The core index added around 137 points in the past four trading days.
Two other indices also ended higher. The DS30 index, comprising blue chips, rose 19.19 points to finish at 2,611 and the DSE Shariah Index gained 9.75 points to close at 1,513.
Turnover, an important indicator of the market, rose to Tk 13.35 billion, which was 5.86 per cent higher than the previous day's tally of Tk 12.61 billion.
Market analysts said the investors continued to show their buying interest on selective large-cap stocks based on the latest quarterly earnings results amid declining coronavirus infection rates in the country.
Stocks maintained the winning streak as the investors hope that the economic activities of the country will continue as usual riding on favourable macroeconomic indicators, according to a merchant banker.
Besides, higher-than-expected quarterly earnings results of many companies also encouraged investors to pour their money into selective issues, he said.
The upward momentum of the market sustained as investors' spontaneous participation added strength to the rally amidst exception of positive market performance ahead, commented EBL Securities.
Price appreciation of several large-cap stocks such as Walton, Square Pharma, British American Tobacco, Robi and Grameepnhone and United Power kept the market afloat, he added.
Five large-cap stocks -- Walton, Square Pharma, British American Tobacco, Robi and Grameenphone-- jointly contributed 32 points rise to the DSEX, according to amarstock.com, a market data analyst.
Price surge in large-cap stocks pushed the market to end higher while investors showed buying appetite in selective issues ahead of the December-end earnings declarations, said International Leasing Securities.
Major sectors posted gains with general insurance seeing the highest rise, gaining 3.40 per cent, followed by food (2.50 per cent), engineering (2.40 per cent), pharma (1.20 per cent), telecom (1.10 per cent), and power (0.40 per cent).
The banking sector faced 0.40 per cent correction, after gaining 1.10 per cent in the previous session.
However, most of the traded issues lost prices, as out of 380 issues traded, 177 declined, 155 advanced and 48 remained unchanged on the DSE trading floor.
A total number of 250,891 trades were executed in the day's trading session with a trading volume of 280.16 million shares and mutual fund units.
The market capitalisation of the DSE stood at Tk 5,670 billion on Sunday, up from the previous day's mark of Tk 5,621 billion.
Beximco, which lost 1.39 per cent, topped the turnover list with shares worth Tk 1.04 billion changing hands, followed by Bangladesh Shipping Corporation (Tk 960 million), BATBC (Tk 578 million), Acme Laboratories (Tk 525 million) and Bangladesh Building Systems (Tk 325 million).
Reliance Insurance was the day's top gainer, posting a gain of 9.95 per cent while BD Thai Aluminum was the worst loser, losing 6.45 per cent.
The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI) rising 145 points to close at 20,721 while the Selective Categories Index - CSCX-- gained 87 points to close at 12,447.
Of the issues traded 141 advanced, 134 declined and 32 issues remained unchanged on the CSE.
The port-city bourse traded 16.52 million shares and mutual fund units with turnover value of Tk 534 million.
