Breaking the four-day losing streak, stocks rebounded yesterday as investors showed their buying appetite on banking stocks.

The banking sector posted the highest gain of 2.81 per cent as prices of 29 banks closed higher, out of 30 listed banks with seven banks among top 10 gainers.

Analysts said the market returned to positive trend having optimistic support of heavyweight banking and some large-cap issues, especially Square Pharmaceuticals.

The market started the day with positive movement and maintained stable position throughout the day and finally ended nearly 55 points higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 6,251.75, after advancing 54.94 points or 0.88 per cent after losing 90 points in the past four straight sessions.

“The investors took position on the lucrative price level in different stocks, especially on banking sector stocks that assisted the bourse to close higher,” commented International Leasing Securities, in its regular market analysis.

However, food, telecom and fuel & power sectors witnessed selling pressure, it said.

“The top gainers list was dominated by bank stocks while the loser list was comprised of ‘Z’ category stocks,” the stockbroker said.

The two other indices also ended higher. The DS30 index comprising blue chips also advanced 11.14 points or 0.49 per cent to close at 2,257. The Shariah Index (DSES) rose 3.71 points or 0.26 per cent to finish at 1,379.

However, turnover, the crucial indicator of the market, fell 9.57 per cent and amounted to Tk 4.44 billion on the major bourse, from previous day’s Tk 4.91 billion.

The gainers took a modest lead over the losers as out of 335 issues traded, 152 closed higher, 141 closed lower and 42 remained unchanged on the DSE trading floor.

Square Pharmaceuticals topped the turnover chart with shares of nearly Tk 177 million changing hands, followed by Grameenphone, Brac Bank, Shahjalal Islami Bank and City Bank.

Prime Bank emerged as the day’s top gainer, posting a gain of 7.25 per cent while Imam Button was the day’s worst loser, plunging by 4.30 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also returned to higher with CSE All Shares Price Index (CAPSI), advancing 174 points to close at 19,352.

The Selective Categories Index - CSCX – also rose 106 points to finish at 11,702.

Losers beat gainers as 102 issues closed lower, 100 closed higher and 28 remained unchanged on the CSE.

The port city bourse traded 10.04 million shares and mutual fund units worth more than Tk 300 million in turnover.