Dhaka stocks bounce back after 3 sessions

Snapping a three-day losing streak, DSEX, the benchmark index of the Dhaka Stock Exchange, rebounded on Tuesday with a gain of 45 points or 0.66 per cent.

At the end of the day’s trading, the index stood at 6,869.24 points at the bourse.

Besides, the blue chip index - DS30 - gained 10.46 points to close at 2,453 points and the Shariah Index - DSES - rose 6.04 points to settle at 1,490 points.

EBL Securities, in its market commentary, said that the bullish trend persisted till the closure of the trading session as investors engaged in buying bonanza after the market observed consecutive falls in the last few sessions.

The increase of the large capitalised stocks, namely BATBC, BEXIMCO, and LHBL, has largely contributed to the market in making a comeback, it said. 

Moreover, the stellar performing general insurance scrips continued to rise while the mutual fund sector, after impressive earning declarations, observed an intense selling spree on the bourse.

On the day, investors' participation was agile on the bourse.

At the DSE, the total turnover significantly advanced by 21.79 per cent and stood at Tk 22.49 billion.

On the sectoral front, general insurance (13.81 per cent), textile (13.49 per cent), and pharma (9.55 per cent) issues were the most traded stocks on the trading board.

Most of the sectors exerted positive returns, out of which cement (3.4 per cent), general insurance (3.1 per cent), and life insurance (2.9 per cent) have exerted the most returns while mutual fund (-2.2 per cent), services (-0.9 per cent) and paper (-0.8 per cent) observed corrections on the
bourse.

Out of the 376 issues traded, 225 advanced, 119 declined, and 32 remained unchanged.

The port city bourse, CSE, also charged up in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 86.6 points and 153.2 points respectively.