Highlight: As the monetary policy statement will be declared on Wednesday, investors are expecting an expansionary monetary policy aimed at ensuring an increase in private sector credit growth.
Stocks maintained a gaining streak for the third consecutive session on Monday while turnover at the Dhaka Stock Exchange (DSE) crossed Tk400 crore, thanks to growing optimism and increased investor participation.
Despite some volatility at the beginning, the market stayed positive as investors kept on taking fresh positions in stocks with the current floor price system.
DSEX, the broad-based index of the premier bourse, gained 0.39 percent to close at 4,145. Blue-chip index DS30 and Shariah index DSES gained only 0.23 percent and 0.21 percent, respectively, following their good performance on Sunday.
Turnover at the DSE increased by 17.66 percent to Tk437 crore – the highest since June 30. Of the turnover on the day, the block market contributed Tk55 crore.
EBL Securities said in its daily market commentary that as the monetary policy statement will be declared on Wednesday, investors are expecting an expansionary monetary policy aimed at ensuring increase in private sector credit growth to get the economy running in full swing again.
Investors' attention was mostly concentrated on pharmaceuticals and chemicals, general insurance, and the banking sector, each respectively occupying around 20, 18 and 11 percent of the total turnover at the premier bourse on Monday.
Most of the sectors experienced price appreciation on the second session of the week.
General insurance gained the highest, 4.7 percent market capitalisation, followed by life insurance and paper and printing stocks.
Food and allied sector lost 2.1 percent of its market capitalisation, followed by IT and telecommunication sectors.
Out of 344 issues traded at the DSE, 117 advanced, 67 declined, while the price of 160 scrips remained unchanged.
The Chittagong Stock Exchange also registered an upward trend on Monday.