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Stocks return to black on recovery of large-cap scrips

Staff Correspondent
03 May 2023 00:00:00 | Update: 02 May 2023 23:13:15
Stocks return to black on recovery of large-cap scrips

Snapping the single-day correction, Dhaka stocks returned to the black on the back of the price appreciation of some large-cap issues following the investors’ optimism concerning the recent quarter’s corporate earnings.

The DSEX, the broad index of the prime bourse Dhaka Stock Exchange (DSE), rose 8.1 points to settle at 6,271 against 6,263 in the previous trading session.

Turnover, another crucial market indicator, jumped 22.9 per cent to Tk 851 crore against the tally of Tk 693 crore in the previous trading session.

The food and allied sector topped the turnover chart with a contribution of 20.5 per cent of the total turnover of the DSE, followed by IT (14.4 per cent) and pharma (10.2 per cent).

Most sectors displayed positive returns, with the IT posting the highest gain of 3.4 per cent, followed by cement (2.5 per cent) and jute (1.9 per cent).

On the other hand, the travel faced the highest correction of 2.3 per cent, followed by services (0.4 per cent) and fuel & power (0.1 per cent).

Out of the issues traded, 88 advanced, 50 declined and 254 remained unchanged on the DSE trading floor.