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Snapping the five-day fallout, Dhaka stocks bounced back on Monday as opportunist investors chased down some beaten-down issues by taking benefit of the recent market correction.
The DSEX, the broad index of the prime bourse Dhaka Stock Exchange (DSE), jumped 17.1 points to settle at 6,199 against 6,182 points in the previous trading session.
Among other indices, the DS30, the blue-chip index, rose 4.02 points or 0.18 per cent to close at 2,218, and the DSES, the Shariah-based index, gained 5.59 points or 0.41 per cent to finish at 1,356.
Meanwhile, the premier bourse witnessed an increase in participation, with the DSE turnover rising by 13.1 per cent to Tk 261 crore against the tally of 231 crore in the previous session.
The market remained upbeat throughout the session riding on investors’ buying binge on sector-specific scrips which they deemed as lucrative at the prevailing market prices, according to EBL Securities, a stockbroker.
Investors were hunting for short-term gaining opportunities as their willingness to take long-term bets in equities weakened in the absence of any major trigger for the market to return to a persistent positive momentum, it said.
Cautious investors, however, remained watchful and stayed on the sidelines amid shaky confidence and squeezed liquidation opportunities across the trading floor, EBL Securities stated.
The IT sector topped the turnover chart with a contribution of 17.8 per cent to the total turnover of the DSE, followed by the pharma (13.6 per cent) and the miscellaneous (11.6 per cent).
Most sectors displayed positive returns at the capital bourse yesterday, with the IT posting the highest gain of 4.9 per cent, followed by services (2.5 per cent) and paper (2.3 per cent).
On the other hand, the jute suffered the most with a loss of 0.7 per cent, followed by general insurance (0.3 per cent).
Out of the securities traded, 56 stocks surged, 98 scrips declined and 237 issues did not see any movement on the DSE trading floor.
The port city bourse, CSE, also settled on green terrain, with wits two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – advanced by 15.2 points and 22.4 points respectively.
