Stocks extended their rally for a second straight session on Tuesday as broad-based buying pushed the benchmark index close to the 5,900 mark and lifted trading turnover by nearly 45 per cent, amid easing geopolitical tensions in the Middle East and growing optimism over corporate earnings.
The benchmark DSEX rose by 1.04 per cent to 5,900 from 5,840 in the previous session. The DS30 advanced by 0.81 per cent to 2,219, while the DSES gained by 0.65 per cent to 1,218.
Trading activity gathered pace as investor participation strengthened. Turnover jumped by 44.6 per cent to Tk1,260.9 crore from Tk872.1 crore in the previous session.
Market analysts said improving global risk sentiment following easing tensions in the Middle East, coupled with expectations of stronger earnings from selected sectors, encouraged investors to increase equity exposure.
The rally was broad-based, with 282 issues advancing, 57 declining and 57 remaining unchanged among the 396 securities traded.
Textile stocks dominated trading, accounting for 23 per cent of total turnover, followed by Engineering with 14.4 per cent and Pharmaceuticals & Chemicals with 11.4 per cent.
The Textile and Life Insurance sectors emerged as the day’s best performers, each gaining 2.3 per cent, while the Food sector rose 2.0 per cent.
Dominage Steel Building Systems led the turnover chart with shares worth Tk85.6 crore, followed by Saiham Cotton Mills with Tk48.2 crore and IT Consultants with Tk45.6 crore in stock turnover.
Among individual stocks, FAS Finance, New Line Clothings and Argon Denims each gained the daily maximum of 10 per cent.
On the losing side, AIBL First Islamic Mutual Fund fell 5.71 per cent, while Shyampur Sugar Mills and Zeal Bangla Sugar Mills declined 5.05 per cent and 4.80 per cent respectively.
