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Dhaka stocks extended their upward momentum for the third consecutive session on Thursday as investors took fresh stands towards particular large-cap issues following the rebounded market owing to the recent regulatory directive to resolve the cheque encashment issue.
The DSEX, the broad index of the Dhaka Stock Exchange (DSE), surged 22.1 points or 0.34 per cent to settle at 6,410 against 6,389 points in the previous trading session.
Among other indices, the DSES, the Shariah-based index, edged up 1.91 points or 0.13 per cent to close at 1,401, and the DS30, the blue-chip index, rose 8.84 points or 0.39 per cent to 2,252.
Turnover, another crucial market indicator, grew by 3.5 per cent to Tk 1,512 crore versus Tk 1461 crore in the previous trading session.
Investors were active on a handful of potential stocks which they perceived to be traded at a lucrative price level, with the expectation of harnessing quick gains, said EBL Securities, a stockbroker, in its daily market review.
The investors, however, remained watchful ahead of the BSEC’s upcoming meeting with the IMF delegation regarding the current capital market issues, also influenced by a majority of scrips being stuck at their floor prices without having potential buyers, it commented.
On the sectoral fronts, the miscellaneous sector topped the turnover chart with a contribution of 16 per cent to the total turnover, followed by pharma & chemical (15.2 per cent) and IT (13.4 per cent) sectors.
Most of the sectors displayed positive returns on the trading floor of the DSE. Of them, the jute sector posted the highest gain of 5.8 per cent, followed by travel (3.5 per cent) and life insurance (3.5 per cent).
Out of the 389 issues traded, 84 advanced, 82 declined and 223 did not see any price movement on the DSE’s trading board.
