Stocks witnessed yet another positive run on Thursday, with the key index of the premier bourse crossing 5,700-mark again as enthusiastic investors continued their buying spree.
Analysts said stocks maintained upward trend as buying interest spurred the sector-specific issues, especially from engineering, NBFI and power sectors - thereby taking the prime index of the premier bourse above 5,700-mark after seven weeks.
The market started higher and crossed the 5,700-mark - gaining 18 points within first hour of trading, but all the initial gains eroded during the mid-session. However, rest of the session went up steadily - ultimately ending nearly 17 points higher.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 16.96 points or 0.30 per cent to settle at 5,701.27, which was the highest level of DSEX since January 24 this year.
With the day's gain, the DSEX managed to add nearly 42 points over the period of past three consecutive sessions.
"The shaky investors continued with their profit-taking mood while active presence of the bargain hunters helped the benchmark index cross 5,700 points after January 24, 2017," said International Leasing Securities, a stockbroker, in its regular market analysis.
The stockbroker noted that the investors' concentration stayed on the banking sector issues expecting better dividends as most of the banks are yet to declare dividends.
The two other indices also edged higher. The DS30 index, comprising the blue-chips, advanced 8.30 points or 0.40 per cent to settle at 2,059.63. The DSE Shariah Index (DSES) gained 1.26 points or 0.09 per cent to close at 1,311.07.
The market participation remained flat with total turnover standing at Tk 9.64 billion, which was 0.82 per cent lower compared to the previous day's total of Tk 9.72 billion.
The bank sector maintained its dominance in turnover chart for the third consecutive session, grabbing 20 per cent of the day's total turnover value and it was followed by textile sector that seized 15 per cent of the day's total turnover.
EBL Securities, a stockbroker, said, "The market witnessed another positive session and ended marginally higher amid active participation from the investors".
The stockbroker noted that the market opened on an optimistic vibe that took a mid-day bounce amid profit-taking sale, but rebounded within a short span as opportunity-hunter investors took position during the later part of the session.
"Buoyancy in sector-specific large-cap issues, especially from fuel and power, engineering, and non-bank financial institutions contributed to the surge in indices," said the stockbroker.
The large-cap sectors showed mixed performance. The engineering sector posted the highest gain of 1.10 per cent, followed by non-bank financial institutions 0.81 per cent, fuel and power 0.80 per cent and bank 0.11 per cent.
Food and allied faced the highest correction of 0.22 per cent, followed by telecommunication 0.12 per cent and pharmaceuticals 0.11 per cent.
The gainers took a modest lead over the losers as out of 327 issues traded, 163 advanced, 109 declined and 55 issues remained unchanged on the DSE trading floor.
IFIC Bank dominated the turnover chart with 13.50 million shares worth nearly Tk 377 million changing hands, followed by LankaBangla Finance, Quasem Drycells, Ratanpur Steel and Beximco.
Union Capital was the day's top gainer, posting a rise of 7.24 per cent while RN Spinning Mills was the worst loser, slumping by 13.35 per cent following its price adjustment after record date.
The port city bourse, the Chittagong Stock Exchange (CSE), also edged higher with its Selective Categories Index - CSCX - advancing 42.53 points to settle at 10,729.42.
Gainers beat losers as 139 issues closed higher, 77 closed lower and 33 remained unchanged on the CSE.
The port city bourse traded 21.04 million shares and mutual fund units worth nearly Tk 555 million in turnover.