Stocks ended higher Monday for the third consecutive session on both bourses with turnover value improved slightly as newly introduced two indices made investors optimistic.
The General Index of the Dhaka Stock Exchange (DGEN) ended at 4,197.43, gaining 26.02 points or 0.62 per cent as market slightly increased its positive outlook.
The newly introduced---DSE Board Index (DSEX) gained 34.56 points or 0.85 per cent to close at 4,090.47 from its opening value of 4,055.91 points while DSE-30 Index (DS30) closed 1,473.01 points, after gaining 12.70 points or 0.87 per cent from its opening value of 1,460.30 points.
The turnover of the premier bourse -- DSE stood at Tk 2.31 billion which was 9.47 per cent higher compared to previous session's Tk 2.11 billion.
"Market went buoyant on the first trading session of launching the new indices namely, DSE 30 Index (DS30) and DSE Broad Index (DSEX) to track performance of the secondary market of the country's main bourse more rigorously," commented IDLC Investments in its regular market analysis.
"Investors' reaction was apparently positive on the issue. Continuous turnover over Tk 2.0 billion seemed to give the bourse some breathing space after recent dearth of liquidity," said the merchant bank.
In addition, market kept watchful over upcoming monetary policy statement, which scheduled to be declared at the end of this week. Regulatory authority, BSEC came up with stricter stance against RN Spinning Mills, after its recent incidence of breaching regulatory laws, it said.
"There has been positive sign in the market for last few days, but they have been stronger on the day with vibrant turnover. In the coming session if this turnover increases even slightly, the major resistance is likely to get broken to make a good run for the market," observed Zenith Investments, in its regular market analysis.
Half of the sector performed consistently well gaining more than 1.5 per cent whereas others remained negatively flat. Banks finally stepped down from the top three positions of the turnover list as textiles sector got the top position with Tk 385.6 million even though it was less than that of last day.
Presumably other sectors relatively did very well in terms of turnover which is a good sign. Cement sector was the top gainer with 1.76 per cent gain as heavyweight Lafarge Surma gained for consecutively four days.
NBFI's continued its positive outlook with 1.57 per cent gain whereas engineering sector also dazzled with 1.67 per cent gain.
Golden Son is slowly rising and made a remarkable 4.11 per cent gain. Although heavyweight ICB lost significantly, positivity of other scrips held NBFI's high. Fuel and power gained 1.68 per cent as heavyweight Titas Gas gained 2.29 per cent. Oil companies were vibrant also as Padma Oil gained 4.84 per cent after a shining earning announcement.
Of the 268 issues traded on the premier bourse, 185 advanced, 58 declined and 25 remained unchanged.
United Airways topped the turnover chart with shares worth BDT 199.42 million changing hands.
Delta Spinners was the day's highest gainer posting a rise of 9.30 per cent while First Phoenix Finance Mutual Fund was the worst loser, plunging by 10 per cent.