Stocks in Bangladesh rebounded strongly today as bargain hunters picked up shares that had been beaten down during the prolonged downturn. The DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 39.2 points to close at 5,637 points, compared with 5,614 points in the previous session. The market opened on a positive note, and buying interest remained strong throughout most of the session. Favorable remarks by regulatory authorities on structural reforms and the long-term development of the capital market also helped boost investor confidence.
Although selling pressure emerged intermittently after the mid-session, it failed to reverse the market's earlier gains, with buyers maintaining control until the close. Trading activity also improved, with turnover rising 25.1 percent to TK 5.9 billion from TK 4.7 billion in the previous session. Textile stocks dominated the turnover, accounting for 27.9 percent, followed by banks at 12.2 percent and pharmaceuticals and chemicals at 12.0 percent.
Most sectors ended higher. Mutual funds posted the highest gain of 4.2 percent, followed by general insurance at 2.2 percent and IT at 2.0 percent. Cement was the only sector to decline, shedding 0.4 percent. Of the 395 issues traded, 300 advanced, 46 declined and 49 remained unchanged. The Chittagong Stock Exchange (CSE) also closed higher. Its selected index, CSCX, gained 37.9 points, while the All Share Price Index (CASPI) advanced 60.7 points.
FAQ
- **What caused the rebound in stocks today?** The rebound was primarily driven by bargain hunters who took advantage of attractive price levels after a prolonged downturn. Favorable remarks by regulatory authorities on structural reforms and the long-term development of the capital market also boosted investor confidence. - **Which sectors performed the best during today's trading?** Mutual funds posted the highest gain of 4.2 percent, followed by general insurance at 2.2 percent and IT at 2.0 percent. Textile stocks dominated the turnover, accounting for 27.9 percent. - **How did trading activity change compared to the previous session?** Turnover rose 25.1 percent to TK 5.9 billion from TK 4.7 billion in the previous session, indicating increased trading activity. - **What was the performance of the Chittagong Stock Exchange (CSE)?** The CSE also closed higher, with its selected index, CSCX, gaining 37.9 points and the All Share Price Index (CASPI) advancing 60.7 points.
