Stocks gained for a third day as investors bought heavily into the market following the government's steps to restructure the Securities and Exchange Commission.
The benchmark general index of Dhaka Stock Exchange DGEN gained 113 points, or 2.07 percent, to close at 5,603 points. The selective categories index of Chittagong Stock Exchange CSCX rose 225 points, or 2.28 percent, to 10,092 points.
The government on Sunday appointed Arif Khan, former managing director of Zenith Investments Ltd, and Amzad Hossain, former executive director of Bangladesh Bank, as members of SEC for three years.
The appointments were part of restructuring the SEC as announced by the finance minister while publishing the full report on the recent debacle in the share market. The new members have expressed their firm resolve to work independently and impartially to help restore stability in the stock market and sustain investors' confidence.
The central bank's decision to extend the deadline for banks to cut their exposure to the stockmarket by four months also boosted investor confidence, said a market operator.
Analysts said the government's corrective measures to help the capital market stabilise created optimism among investors.
The prime index rose for the first five minutes of trading and closed positive at the end of the day.
The significant 45 percent increase of turnover shows the boost in the investors' confidence level, said Green Delta Securities. Turnover on the DSE stood at Tk 418 crore, up Tk 150.59 crore from the previous day's turnover Tk 330 crore.
Of the total 261 issues traded on the DSE floor, only 26 lost, 231 gained and four remained unchanged.
The total market capitalisation reached Tk 263,699 crore at the end of the trading session.
The banking sector gained 1.99 percent, reaching 27.6 percent of total market capitalisation. Of 30 issues in the sector, only Social Islami Bank Ltd closed red.
The non-bank financial institutions gained 2.79 percent, fuel and power sector2.51 percent, while life insurance gained sharply 6.02 percent.
Grameenphone, which represents the telecoms, gained 1.51 percent. MI Cement Factory Ltd topped the turnover leaders with 18.11 lakh shares worth Tk 24.77 crore changed hands.
Sinobangla Industries was the biggest gainer of the day, posting a 9.83 percent rise in its share prices, while National Tea Company slumped 20.51 percent to end up as the worst loser.
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