Snapping a three-day losing streak, Dhaka stocks rebounded on Tuesday, with opportunistic investors seizing positions in sector-specific stocks in anticipation of quick gains following the recent market corrections.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surpassed the 6,300-mark again, with the core index jumping 16.7 points to settle at 6,301 against 6,284 in the previous trading session.
Meanwhile, investor participation rose on the trading floor, with the daily DSE turnover surging by 17.2 per cent to Tk 523 crore against the tally of Tk 446 crore in the previous session.
The general insurance accounted for 32.6 per cent of the market turnover, the highest, followed by food and allied (12.7 per cent) and life insurance (9.2 per cent).
Fu Wang Food Ltd was the most traded stock with Tk 34 crore worth of its shares changing hands, followed by Miracle Industries Ltd, and Meghna Life Insurance Co Ltd.
The market opened higher riding on investors’ buying appetite for sector-specific scrips as they sought quick-gain opportunities after the market went through a consecutive session of corrections recently, said EBL Securities, a stockbroker, in its daily market review.
Cautious investors, however, were still watchful and preferred to observe the market momentum since the market was yet to show any major strength to return to a persistent positive momentum, it added.
Sectors displayed mixed returns, with the paper posting the highest gain of 4.2 per cent, followed by general insurance (2.6 per cent) and travel (2.6 per cent), while the jute faced the highest correction of 0.4 per cent, as per EBL Securities.
As per the daily market review of Brac-EPL Stock Brokerage, large-cap sectors posted mixed performance, with the food and allied booking the highest gain of 0.12 per cent, followed by pharmaceutical (0.11 per cent), and engineering (0.02 per cent), while the fuel and power experienced the highest loss of 0.02 per cent, followed by bank (0.00 per cent), and NBFI (0.00 per cent).
Miracle Industries Ltd rose 9.9 per cent to become the day’s top gainer, while Legacy Footwear Ltd fell 2.6 per cent becoming the worst sufferer.
Out of the 392 issues traded, 118 advanced, 29 declined and 245 did not see any movement on the DSE trading floor.
The port city bourse, CSE, also settled on green terrain, with its two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – advancing by 15.9 points and 26.2 points respectively.
