Dhaka stocks advanced for the second consecutive session on Thursday, as buyers dominated the session with hope for the market to rebound after the recent corrections, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, increased by 30.99 points, or 0.55 per cent, to close at 5,615.64 points on the day after gaining 14.96 points in the previous trading session on Tuesday.
The market remained closed on Wednesday on the occasion of May Day.
Though the key index advanced on Thursday, the turnover amount witnessed a sharp decline.
As the investors decreased their activity on the market, the turnover on Thursday declined by more than Tk 100 crore than the previous session.
The Dhaka bourse posted a total of Tk聽710.62 crore in its turnover amount on the day.
The total turnover of DSE on the previous session on Tuesday was Tk 835.72 crore.
Market operators said that though the indices showed a little fluctuation throughout the session, the indices finished in the positive trajectory.
Bargain hunters favoured taking positions in the potentially lucrative scrips with a positive expectation of short-term gain, according to EBL Securities daily market review.
In the past 10 weeks, the Dhaka bourse witnessed decrease in the indices in a total of nine weeks.
Market operators said that rising interest rates in banks might have prompted investors to shift their funds to the sector in the past weeks.
They also said that multiple other factors were working behind the bearish trend of stocks, such as lack of investor confidence amid economic woes in the country and global geopolitical tensions, liquidity crisis in banks and sudden change of policies.
Of the 395 issues traded on the day, 207 advanced, 140 declined and 48 remained unchanged.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by food and textile stocks.
EBL Securities in its daily market commentary said, 鈥楾he indices managed to remain upbeat throughout the session as buyers have retained their dominance in the market, chasing quick-gain opportunities in sector-specific issues amidst the ongoing corporate declarations of the listed companies.鈥�
The DSE Shariah index increased by 4.92 points, or 0.40 per cent, to close at 1,232.42 points on Thursday.
The DS30 index gained 12.55 points, or 0.62 per cent, to finish at 2,007.85 points.
Asiatic Laboratories topped the turnover chart on the day with its shares worth Tk聽35.92 crore changing hands.
Malek Spinning Mills, Taufika Foods and Lovello Ice-cream, IT Consultants, Orion Infusion, Alif Industries, Orion Pharma, Oimex Electrode, Shinepukur Ceramics and Best Holdings were the other turnover leaders.
