Stocks rebounded on the Dhaka Stock Exchange (DSE) on Monday after two consecutive sessions of losses, as investors bought banking shares ahead of corporate earnings announcements, betting on stronger results from financially sound lenders.
The benchmark DSEX index gained 28 points to close at 5,451, up from 5,423 in the previous session, with heavyweight stocks supporting the recovery ahead of the Durga Puja holidays.
Banking shares led trading activity as investors positioned themselves ahead of upcoming board meetings and anticipated earnings declarations.
Market turnover jumped 37.5 per cent to Tk500 crore from Tk370 crore in the previous session, reflecting stronger trading activity alongside the index recovery.
Banks accounted for 23.5 per cent of total turnover, followed by textiles at 21.6 per cent and pharmaceuticals at 9.7 per cent.
The market remained largely positive throughout the session despite some fluctuations midway through trading, as continued buying in heavyweight stocks helped sustain gains.
Sectoral performance was mixed. Mutual funds led the advances, rising 1.8 per cent, followed by banks at 1.2 per cent and life insurance at 1 per cent.
Jute stocks suffered the steepest losses, declining 3.6 per cent, while paper and textile shares fell 0.9 per cent and 0.5 per cent, respectively.
Market breadth also turned positive. Of the 395 issues traded, 186 advanced, 136 declined and 73 remained unchanged.
The Chittagong Stock Exchange also closed higher, with its Selective Categories Index gaining 41.5 points and the All Share Price Index advancing 66.8 points.
