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Stocks remained bullish Sunday as investor confidence was further boosted by several companies declaring their dividends.

The Dhaka Stock Exchange's general index neared its all-time high, finishing at 3023.88. "The market usually heats up at this time of the year, when dividends are declared," said A Kashem of Prime Securities.

DSE chief executive Salahuddin Ahmed said increased investor confidence was behind the upward trend. "The turnover board shows a couple of new issues, which shows renewed confidence in the market," said Salahuddin.

An official with Latif Securities said merchant banks were playing an important role in the buoyant market. "Funds are coming into the market as merchant banks are now more relaxed about issuing loans," he said. The DSE general index rose sharply from the opening bell to a high of 3030 points, before slipping towards the midday trade.

It rose again towards the close to finish upbeat. The benchmark or general index added 32.50 points, or 1.08 percent, to end on 3023.88. The DSI or all share price index finished at 2553.31, up 25.30 points, or 1.00 percent. The bourse's blue chip DSE-20 surged 40.03 points, or 1.71 percent, to close at 2379.19.

Turnover stood at Tk 3.25 billion from 21,511,640 traded shares. Gainers beat losers 139 to 103 while two issues remained unchanged. Most banks lost as investors locked in their profits, while mutual funds rose. Pharmaceuticals closed mixed.

Turnover board leader AB Bank fell 3.53 percent to end on Tk 3313.50 due to profit-taking. Market heavyweight Square Pharma saw its share prices climb following losses Thursday, gaining 4.94 percent to end on Tk 3701.50. Uttara Bank ended on Tk 4863, down 2.66 percent. Grameen Mutual Fund One rose 3.68 percent to end on Tk 134.90. G group issue Lafarge Surma Cement attracted investor interest, closing at Tk 499.50, up 6.44 percent.

IFIC Bank fell 2.06 percent to close at Tk 2852.75. AIMS 1st Mutual Fund continued its ascent, ending on Tk 9.95, up 1.73 percent. Dutch Bangla Bank finished lower as investors locked in their profits. BRAC Bank and NCC Bank advanced. Indices on the Chittagong Stock Exchange also closed upbeat, showing a substantial increase in both turnover and trading volume.

Cement, paper and printing and mutual funds were the biggest gainers on the port city bourse. The CSCX or selective categories index surged 81.70 points, or 1.66 percent, to finish at 4976.52. The CASPI or all share price index ended on 7765.28, up 114.90 points, or 1.50 percent.

The CSE-30 blue chip advanced 68.97 points, or 1.01 percent, to end on 6893.14. Turnover surged to Tk 533.18 million from 4,362,816 traded shares.

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