stocks rebounded sharply on Thursday after the Supreme Court's verdict that upheld death sentences to convicted Sheikh Mujib killers lifted up investors' mood.
The investors snapped up Grameenphone and banking shares in a hectic afternoon trading when news came that the country's highest court rejected the appeals of the ex-army officers, paving the way for their execution within months.
The DSE general index (DGEN) shot up 66.96 points or 1.64 per cent to end at 4144.74 as most of the banks gained and the country's largest mobile phone operator rose nearly six per cent.
"With this verdict, the investors have heaved a sigh of relief. The judgment has removed a long-standing irritation in our national polity, resulting in a bullish mood among investors," stock expert Yawar Sayeed said.
The GP shares, which made debut on Monday, dragged the market down in the first hours but it sharply recovered in the afternoon as investors betted on the company's strong fundamentals.
Grameenphone, also the country's largest mobile phone operator, closed the day at Tk 164.00, or 5.5 per cent higher than the previous day, after opening at Tk 158, which is 2.3 times more than its reference price.
"Rally in stock prices of financials and GP has sent the market into positive territory, especially after the verdict" said Ahmed Rashid, a leading stock broker and a former senior vice president of the DSE.
"However, GP's volume of trade was lower than the previous trading sessions. This is because most of the investors who won shares in the IPO lottery are yet to go for sale on hopes that the price will rise further," said Rashid.
The broader All Shares Price Index (DSI) gained 52.97 points or 1.56 per cent to 3436.36 while DSE-20 Index (DS20) comprising blue chips finished at 2364.55 with a rise of 28.28 points or 1.21 per cent.
Majority of stock prices increased as out of 227 issues traded, 164 went into the positive territory, 61 ended into the negative and two remained unchanged.
The day's volume of transaction remained almost unchanged as it stood at Tk 8.62 billion, an increase of 5.50 per cent over the previous session's Tk 8.17 billion.
Social Investment Bank Ltd (SIBL) topped the turnover list, dislodging GP that ruled trading for three consecutive days after its debut.
Shares of SIBL worth Tk 389.84 million changed hands, followed by AB Bank Tk 359.25 million, Titas Gas Tk 276.57 million, GP Tk 256.33 million, Beximco Tk 244.07 million and Premier Bank Tk 221.82 million.
The banking issues continued to climb up following an array of good third quarter results. The sector, considered the bellwether of the market, advanced 2.04 per cent.
Most of the non-banking financial institutions (NBFIs), mutual funds, pharmaceuticals and energy issues nudged higher.
Cement sector was the big losers on profit taking by investors.
All general insurance companies, except one, edged higher while life insurance companies ended the session mixed. All Beximco subsidiaries except Shinepukur advanced.
Saiham Textile was the largest gainer, posting a rise of 17.17 per cent as the company's share trading resumed after a single day suspension due to book-closure.
Other leading gainers were Prime Textile, Savar Refractories, First Lease International, All Textile, Islamic Finance and Midas Finance.
Zeal Bangla, Gemini Sea Food, CMC Kamal, Metro Spinning, Mithun Knitting, Samorita Hospital, Tallu Spinning and Jamuna Oil were the major losers.
The investors snapped up Grameenphone and banking shares in a hectic afternoon trading when news came that the country's highest court rejected the appeals of the ex-army officers, paving the way for their execution within months.
The DSE general index (DGEN) shot up 66.96 points or 1.64 per cent to end at 4144.74 as most of the banks gained and the country's largest mobile phone operator rose nearly six per cent.
"With this verdict, the investors have heaved a sigh of relief. The judgment has removed a long-standing irritation in our national polity, resulting in a bullish mood among investors," stock expert Yawar Sayeed said.
The GP shares, which made debut on Monday, dragged the market down in the first hours but it sharply recovered in the afternoon as investors betted on the company's strong fundamentals.
Grameenphone, also the country's largest mobile phone operator, closed the day at Tk 164.00, or 5.5 per cent higher than the previous day, after opening at Tk 158, which is 2.3 times more than its reference price.
"Rally in stock prices of financials and GP has sent the market into positive territory, especially after the verdict" said Ahmed Rashid, a leading stock broker and a former senior vice president of the DSE.
"However, GP's volume of trade was lower than the previous trading sessions. This is because most of the investors who won shares in the IPO lottery are yet to go for sale on hopes that the price will rise further," said Rashid.
The broader All Shares Price Index (DSI) gained 52.97 points or 1.56 per cent to 3436.36 while DSE-20 Index (DS20) comprising blue chips finished at 2364.55 with a rise of 28.28 points or 1.21 per cent.
Majority of stock prices increased as out of 227 issues traded, 164 went into the positive territory, 61 ended into the negative and two remained unchanged.
The day's volume of transaction remained almost unchanged as it stood at Tk 8.62 billion, an increase of 5.50 per cent over the previous session's Tk 8.17 billion.
Social Investment Bank Ltd (SIBL) topped the turnover list, dislodging GP that ruled trading for three consecutive days after its debut.
Shares of SIBL worth Tk 389.84 million changed hands, followed by AB Bank Tk 359.25 million, Titas Gas Tk 276.57 million, GP Tk 256.33 million, Beximco Tk 244.07 million and Premier Bank Tk 221.82 million.
The banking issues continued to climb up following an array of good third quarter results. The sector, considered the bellwether of the market, advanced 2.04 per cent.
Most of the non-banking financial institutions (NBFIs), mutual funds, pharmaceuticals and energy issues nudged higher.
Cement sector was the big losers on profit taking by investors.
All general insurance companies, except one, edged higher while life insurance companies ended the session mixed. All Beximco subsidiaries except Shinepukur advanced.
Saiham Textile was the largest gainer, posting a rise of 17.17 per cent as the company's share trading resumed after a single day suspension due to book-closure.
Other leading gainers were Prime Textile, Savar Refractories, First Lease International, All Textile, Islamic Finance and Midas Finance.
Zeal Bangla, Gemini Sea Food, CMC Kamal, Metro Spinning, Mithun Knitting, Samorita Hospital, Tallu Spinning and Jamuna Oil were the major losers.
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