The stock market rebounded strongly on Tuesday, snapping a two-day losing streak, as the bargain hunters put fresh bets on lucrative stocks.
The market opened higher and the upbeat note sustained till the end of the session with no sign of reversal.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 79.88 points or 1.19 per cent to settle at 6,771, after losing nearly 74 points in the past two consecutive sessions.
Two other indices also ended higher with the DSE 30 Index, comprising blue chips, rising 34.77 points to finish at 2,471 and the DSE Shariah Index (DSES) advanced 19.05 points to close at 1,460.
Turnover, a crucial indicator of the market, jumped to Tk 9.57 billion on the country’s premier bourse, climbing by 51 per cent over the previous day’s tally of Tk 6.34 billion.
Market analysts said the stocks rebound strongly with renewed investors’ optimism following the news that the merchant bankers request to form a special fund to enhance liquidity support in the market.
Gainers took a strong lead over the losers, as out of 377 issues traded, 257 advanced, 73 declined and 47 issues remained unchanged on the DSE trading floor.
Beximco - the flagship company of Beximco Group- continued to dominate the turnover chart with shares worth about Tk 1.35 billion changing hands, followed by Aamra Technologies (Tk 341 million), VFS Thread Dyeing (Tk 250 million), Sonali Papers (Tk 247 million) and Orion Pharma (Tk 242 million).
Atlas Bangladesh was the day’s top gainer, posting a 9.92 per cent gain, while Paramount Insurance was the worst loser, shedding 5.89 per cent, following its corporate declarations.
A total number of 163,148 trades were executed in the day’s trading session with a trading volume of 234.05 million shares and mutual fund units.
The market cap of DSE also rose to Tk 5,399 billion on Tuesday, up from Tk 5,356 billion in the previous session.
The Chittagong Stock Exchange (CSE) also rebounded with the CSE All Share Price Index – CASPI –soaring 197 points to settle at 19,813 and the Selective Categories Index – CSCX rising 119 points to close at 11,886.
Of the issues traded, 168 advanced, 77 declined and 41 issues remained unchanged on the CSE.
The port city’s bourse traded 7.82 million shares and mutual fund units with a turnover value of Tk 221 million.
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