DSEX rallies for 4th consecutive session

The benchmark index of the Dhaka Stock Exchange sustained its upward rally for the fourth straight session pulled up by the continuous institutional buying.

Trading began on a positive note in the morning but went into the negative territory briefly in the first session of the trade on profit-booking. The market remained range-bound in the second half of the day and closed in the green.

On Tuesday, the benchmark DSEX index ended the day with an increase of over 24 points or 0.21 per cent to close at 64,32.

The blue-chip index DS30 edged up almost 3 points or 0.2 per cent to 1,396 while the DSES index, which represents Shariah-based companies, rose marginally 4 points or 0.17 per cent to 2,279.

The equity indices of the capital bourse extended their upward momentum for another day, as optimistic investors outnumbered on the trading floor, riding on the positive expectations regarding forex market stability, fuel price reduction, and stability in power supply, said the EBL Securities in a note.

The recent recovery signs on the macroeconomic front instilled confidence among the investors that propelled the buyers to continue their dominance in the market, which led the index to continue its upward rally, it said.

The total turnover increased by 1.4 per cent to Tk 1,769 crore over the previous session.

On the sectoral front, Textile (21.8 per cent) issues exerted the highest turnover, followed by Pharmaceutical & Chemicals (13.2 per cent) and Engineering (12 per cent) stocks.

Among the sectors, Services (3.6 per cent), Financial Institution (2.3 per cent), and Cement (1.8 per cent) exhibited the highest returns on the bourse today, while Telecom (-1.2 per cent), General Insurance (-1.1 per cent) and Paper (-0.8 per cent) exerted the most corrections.

Out of the 386 issues traded, 184 advanced, 123 declined, and 79 remained unchanged.

The port city bourse, CSE, also settled in positive territory. The selected indices (CSCX) and All Share Price Index (CASPI) marginally increased by 41.7 and 69.2 points respectively.