Dhaka stocks advanced for the fourth consecutive session on Monday, as a section of investors went for scrips that were showing sustained price increase, market operators said.
As the market is seemingly on the rebound after a prolonged bearish vibe, the total turnover of the Dhaka bourse on the day crossed the Tk聽1,000-crore mark after 81 days.
DSEX, the key index of the Dhaka Stock Exchange, increased by 34.95 points, or 0.61 per cent, to close at 5,727.01 points on the day after gaining 76.41 points in the previous trading session.
Market operators said the bourse maintained its positive momentum throughout the session, and ended in the positive trajectory.
With the investors increasing their activity on the market, the Dhaka bourse posted a total of Tk聽1,095.64 crore in turnover on the day.
The last time Dhaka Stock Exchange posted the total turnover over Tk聽1,000 crore was on February 15, 2024, with the turnover amount standing at Tk 1,074.73 crore on the day.
The total turnover on the DSE on Sunday was Tk聽817.76 crore.
Market operators said that the news of the reappointment of the current chairman of the Bangladesh Securities and Exchange Commission prompted investors to be hopeful and get active on the buying side.
The rebound came after a decrease in price indices in nine out of 11 weeks, they said.
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 396 issues traded on the day, 252 advanced, 86 declined and 58 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, 鈥楤uyers continued their dominance, leading the majority of scrips to extend their price appreciation since investor sentiment has somewhat rebounded from the prolonged depressed vibe.鈥�
The DSE Shariah index increased by 10.51 points, or 0.84 per cent, to close at 1,261.50 points on Monday.
The DS30 index gained 13.35 points, or 0.65 per cent, to finish at 2,046.80 points.
Orion Infusion topped the turnover chart on the day with its shares worth Tk聽45.37 crore changing hands.
Asiatic Laboratories, Taufika Foods and Lovello Ice-cream, Far East Knitting & Dyeing Industries, Fortune Shoes, Golden Son, Salvo Chemical Industry, IT Consultants and Orion Pharma were the other turnover leaders.
