The Dhaka Stock Exchange (DSE) saw a significant rebound today as bargain hunting returned, driven by improved investor confidence. The broad index, DSEX, gained 93.5 points to settle at 5,538 points, up from 5,472 points in the previous session. The positive momentum was sustained throughout the session, with the DSEX at one point gaining more than 100 points. This broad-based buying interest emerged after consecutive sessions of declines.
Market Turnover and Sectoral Performance
Market turnover rose to Taka 5.0 billion, a 3.8 percent increase compared to the Taka 4.9 billion recorded in the previous session. The Textile sector accounted for the highest share of turnover at 21.9 percent, followed by General Insurance at 19.4 percent and Bank at 12.2 percent. Most sectors posted positive returns, with Services gaining 4.1 percent, General Insurance 3.8 percent, and Paper 3.7 percent.
Broad Market Movements and Chittagong Stock Exchange
Of the 395 issues traded, 333 advanced, 15 declined, and 47 remained unchanged. The Chittagong Stock Exchange (CSE) also ended the session in positive territory. The selected indices (CSCX) and All Share Price Index (CASPI) gained 26.2 points and 50.5 points respectively to close at 10,055.5 and 16,573.4 points.
The rebound in the stock market can be attributed to the Prime Minister's recent assurance of an immediate resolution to industrial gas supply constraints and regulatory engagement with leading brokers. This has instilled confidence among investors, leading to increased buying activity across various sectors.
The Textile sector's strong performance is particularly notable, as it has been one of the hardest-hit sectors in recent times. The increased turnover and positive returns indicate a potential recovery in this sector, which could have broader implications for the economy. Similarly, the gains in the General Insurance and Bank sectors suggest a return of investor interest in these traditionally stable sectors.
The positive performance of the Chittagong Stock Exchange mirrors the trend seen in Dhaka, indicating a broader market recovery. The gains in the CSCX and CASPI indices further underscore the improved market sentiment and the potential for continued upward momentum in the coming sessions.
