Dhaka stocks advanced on Tuesday after a fall in the previous session, 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 14.96 points, or 0.26 per cent, to close at 5,584.64 points on the day after losing 46.15 points in the previous trading session.
Along with the indices, the turnover too witnessed a sharp spike.
As the investors increased their activity in the market, the turnover on Tuesday surpassed the Tk聽800-crore mark after nearly two months.
The Dhaka bourse posted a total of Tk聽835.72 crores in its turnover amount on the day.
The last time the DSE posted its turnover more than Tk聽800 crore was on March 5 at Tk聽843.72 crore.
Market operators said that though the indices showed a little fluctuation throughout the session, the indices finished in the positive trajectory.
Opportunistic investors sought bargain hunting opportunities in sector-specific issues amidst the ongoing earnings disclosures of the listed companies, 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, while gaining only in the one week before Eid-ul-Fitr, one of the biggest religious festivals of the Muslims, which was celebrated in the country on April 11.
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, 145 advanced, 204 declined and 46 remained unchanged.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by textile and bank stocks.
EBL Securities in its daily market commentary said, 鈥楾he indices mostly remained flat in Tuesday鈥檚 session as investors remained active on both sides of the trading fence, while buyers remained on the slightly dominant side as they opted to take positions in the potentially lucrative scrips with positive expectation of a short-term gain.鈥�
The DSE Shariah index increased by 5.71 points, or 0.46 per cent, to close at 1,227.50 points on Tuesday.
The DS30 index gained 1.31 points, or 0.06 per cent, to finish at 1,995.30 points.
Sonali Aansh Industries topped the turnover chart on the day with its shares worth Tk聽63.49 crore changing hands.
Malek Spinning Mills, Asiatic Laboratories, Orion Infusion, Orion Pharma, IT Consultants, Taufika Foods and Lovello Ice-cream, Golden Son, Kohinoor Chemicals Company (Bangladesh) and Best Holdings were the other turnover leaders.
