Junk stocks are once again soaring on rumours in spite of the bear run in the market in the past few weeks centring on the upcoming polls.

 Of the top ten gainers yesterday, five were junk stocks.

Sonargaon Textile, one of the junk stocks, was the day's best performer, posting a 9.70 percent gain.

The other junk stocks Meghna Condensed Milk, ICB Islamic Bank, Tung Hai Knitting and Peoples Leasing posted at least 6 percent gain.

Market insiders said a vested quarter is spreading rumours that junk stocks and stocks that are trading close to face value will shoot up in the coming days.

“The rumours were very common among the stock brokers in the last few days and now the stocks have started to rise,” said a managing director of a stock broker, requesting not to be named.

He went on to urge the stock market regulator to take actions against the miscreants.

“Otherwise, investors will lose confidence in the regulator, which will affect the market,” he added.  Meanwhile, DSEX, the benchmark index of the Dhaka Stock Exchange, rose 82.08 points, or 1.57 percent, in the last five days to close at 5,300.09.

Turnover, another important indicator of the market, went up 13.62 percent to Tk 357.41 crore during the period.

Pragati Insurance was the worst performer yesterday, shedding 5.41 percent. Khulna Power dominated the turnover chart with its transaction of 28.88 lakh shares worth Tk 18.07 crore, followed by Square Pharmaceuticals, Ifad Autos, Brac Bank and Bdcom Online.

Among the major sectors, non-bank financial institutions, banks, food, engineering and pharmaceuticals rose, while energy decreased, according to data from the IDLC Securities.

The top three positive index contributors were Beximco Pharma, BATBC and NCC Bank.

Of the traded issues, 177 advanced, 127 declined and 38 remained unchanged on the premier bourse.

Chittagong stocks also rose yesterday, with the bourse's benchmark index, CSCX, increasing 12.17 points, or 0.12 percent, to finish the day at 9,811.83.

Gainers beat losers as 109 advanced and 83 declined, while 38 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 68.92 lakh shares and mutual fund units worth Tk 32.47 crore.