The key index, DSEX, of the Dhaka Stock Exchange (DSE) broke out of its three-day losing streak on Wednesday as opportunistic investors sought bargain hunting opportunities in particular beaten-down issues, taking advantage of the prolonged downbeat vibe in the market.
DSEX gained 15.72 points and closed at 6,218.54. The blue-chip index DS30 and the Shariah-based index DSES closed at 2,103.36 and 1,351.29 points, respectively. Most of the large-cap sectors posted positive performance.
Meanwhile, turnover increased by 1.93 per cent to Tk 303 crore. The engineering sector dominated the turnover chart covering 13.58 per cent of total turnover.
Out of the 392 issues traded, 122 advanced, 18 declined, and 252 remained unchanged on the DSE trading floor.
Buyers remained dominant throughout the session as optimistic investors bagged the oversold stocks that propelled the market to slightly recover from its gloomy phase, EBL Securities said in its daily market review.
However, investment appetite remains subdued across the trading floor as cautious investors are apprehensive regarding the market outlook owing to the bleak macroeconomic environment and mounting political tensions ahead of the national election, it said.
This week, Dhaka stocks continued to bleed owing to depressed market sentiment and shaky investor confidence across the trading floor, while the latest policy rate hike by a further 50 basis points amid a tightened monetary space fueled the prevailing concerns among investors regarding the market outlook.
BRAC EPL said in its daily market review that food and allied goods booked the highest gain of 0.30 per cent followed by Pharmaceutical, Engineering, Fuel & Power, NBFI, Telecommunication, and Bank, respectively.
The Block trades contributed 8.4 per cent of the overall market turnover. The Sea Pearl Beach Resort & Spa Limited was the most traded share with a turnover of Tk 20.9 crore.
SEAPEARL dominated the turnover chart, closely followed by FUWANGFOOD, KPPL, MONNOCERA and SONALIANSH.
FUWANGFOOD was the day's top gainer, rising 10 per cent, while JUTESPININ Sea Pearl Beach was the worst loser, shedding 5.02 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also settled on green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 11.2 and 18.4 points, respectively.
The port city's bourse traded 33.56 lakh shares and mutual fund units with a turnover value of Taka 7.44 crore. Of the issues traded, 21 declined, 53 advanced, and 74 issues remained unchanged on the CSE.
