Dhaka stocks extended their recovery for a second consecutive session on Wednesday as investors returned to beaten-down shares, with textile and insurance stocks leading the gains despite continued caution in the market.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), gained 23.1 points, or 0.4 per cent, to close at 5,660 points, compared with 5,637 points in the previous session.
The recovery came with stronger trading activity. Turnover on the DSE rose 22.5 per cent to Tk 731.10 crore from Tk 596.80 crore a day earlier.
The number of trades increased 16.7 per cent to 1,75,097, while trading volume climbed 24.2 per cent to 25.60 crore shares.
Textile stocks dominated the market, accounting for 39.5 per cent of total turnover. The sector generated Tk 288.47 crore in transactions, followed by general insurance stocks with Tk 95.95 crore and pharmaceutical stocks with Tk 75.30 crore.
The market opened higher, but early gains were trimmed as selling pressure emerged.
Buying interest strengthened later in the session, particularly in textile and insurance shares, allowing the benchmark index to finish higher.
Most sectors ended in positive territory. General insurance recorded the strongest sectoral gain, rising 2.3 per cent, followed by textiles at 2 per cent and tannery at 1.4 per cent.
Financial institutions and jute were the only sectors to decline, falling 0.4 per cent and 0.3 per cent, respectively.
Market breadth remained positive, with 238 of the 395 traded issues advancing, while 89 declined and 68 remained unchanged.
Textile shares were among the major contributors to the index gain as apparel exports rose 13 per cent year on year following a dip in the past fiscal year.
Malek Spinning Mills rose 8.9 per cent, while Saiham Textile Mills advanced 9.1 per cent. BRAC Bank gained 0.3 per cent.
Malek Spinning Mills led the turnover table with Tk 59.80 crore, followed by Saiham Textile Mills at Tk 47.62 crore and BRAC Bank at Tk 25.99 crore.
The market capitalisation of the DSE edged up 0.1 per cent to Tk 6,98,600 crore from Tk 6,97,600 crore in the previous session.
