Dhaka, Bangladesh (BBN) – Turnover value at the Dhaka Stock Exchange (DSE) crossed BDT 8.0 billion-mark on Sunday after seven-and-a-half months, powered by investors’ buying spree amid growing investors’ confidence to the market.

Daily turnover value jumped to BDT 8.38 billion, registering an increase of 22.25 percent over the previous session’s value. It was the highest turnover since BDT 8.56 billion recorded on January 30, this year.

Along with increasing turnover, the prime index of the DSE –DSEX, also shot up and crossed the ‘psychological’ threshold of 4,700-mark to close at 4,713.58 points after surging 37.66 points or 0.80 percent. It is the highest level of DSEX in six-and-a-half months since February 27.

Such upward movement in the indices has mainly resulted from the gains by some large cap stocks, particularly MJL BD, BSRM Steels and Lafarge Surma Cement etc.

A market analyst said market witnessed strong buying pressure mostly from institutions as continuous positive market trend boosted up investors’ confidence and encouraged them to take fresh positions.

“Since the market is prevailing in the green zone for quite a long time, investors should not set their targets too high in the hope of abnormal return, but the target must be set at a standard level,” he suggested.

“Investors’ confidence as well as injection of fresh funds continued the market momentum for the fourth consecutive session,” commented IDLC Investments, an investments bank.

LankaBangla Securities said: “Investors seemed to be active on both selling and buying side making the putting breadth on strong point”.

For the first time, in last seven months, market turnover value crossed the Tk 8.0 billion-mark as some large-cap Oil, Pharma and Cement stocks saw vast buying interest among the investors, the stock broker added.

International Leasing Securities said: “The country’s major bourse reached to a seven months high along the prime index – DSEX reaching a record level amidst the investors’ relentless optimism in manufacturing sectors”.

Individual stocks from fuel and power, cement and engineering sectors were at the focal of the investors’ attention, said the International Leasing.

BBN/SSR/AD-14Sept14-9:56 pm (BST)