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Dhaka stocks bounced back on Tuesday, recovering sharp losses seen in the previous two sessions.
The market opened the session on a positive note and no frequent dips were witnessed as investors led by institutional investors got back to buying mood.
The benchmark DSEX index gained 68 points or 1 per cent to close at 6,868, scaling back from its 11-week low of 6,787.
The Shariah-based index DSES rose 17 points or 1.2 per cent to 1,454 and the blue-chip DS30 index was up 32 points or 1.25 per cent to 2,616.
However, a group of investors remained on the sideline amid the volatility as a result, turnover dropped to a fresh six months low to 1007 crore, down 6.27 per cent lower than the last session.
The market pullers included Lafarge Holcim, Square Pharmaceuticals, ICB, UPGDCL, Beximco Pharmaceuticals, Beacon Pharmaceuticals, Power Grid, Beximco, GPH Ispat and BSCCL.
Of the total turnover, Pharma made up 18.82 per cent, textile 14.89 per cent, and miscellaneous 11.71 per cent.
“Stocks on the Dhaka bourse rebounded as bargain hunters went on late hour buying spree on major sectoral stocks after consecutive corrections left many shares available at lucrative prices,” said the EBL Securities in its market analysis.
Almost all the sectors returned positive. Cement sector came to the spotlight driven by Lafarge Holcim surging more than 6.87 per cent.
Debutant Sena Kalyan Insurance Company gained for the second straight session soaring 9.91 per cent to over Tk 13.3, making it the second-largest top gainer after National Housing Finance and Investment Ltd.
Aziz Pipes was the worst loser on the news that it halted production. It lost 7.88 per cent.
Beximco was the most traded stock, followed by Orion Pharma, Lafarge Holcim Bangladesh, Beximco Pharmaceuticals, Square Pharmaceuticals and Genex Infosys.
The port city bourse, CSE, also settled in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 139.0 points and 229.5 points respectively.
