Dhaka stocks broke their recent correction streak as investors returned to equities, with broad-based buying and renewed interest in heavyweight shares lifting the market, according to EBL Securities’ post-closing market commentary.
The benchmark index of the Dhaka Stock Exchange (DSE), DSEX, gained 55.4 points to close at 5,840 on Monday, compared with 5,784 in the previous session.
The market maintained an upward trend throughout the session as buying interest strengthened, led by heavyweight stocks and gains across most listed securities. The recovery provided relief to investor sentiment after the recent corrective phase, EBL Securities said.
However, persistent nationwide gas supply disruptions and concerns over recent amendments to margin lending rules continued to keep investors cautious, according to the brokerage’s analysis.
Market turnover increased 11.7 per cent to Tk870 crore from Tk780 crore in the previous session, reflecting higher trading activity.
Of the 396 securities traded, 297 advanced, 52 declined and 47 remained unchanged.
Textile stocks accounted for the largest share of turnover with 22.8 per cent, followed by pharmaceuticals with 12.4 per cent and engineering stocks with 11.1 per cent of the DSE’s total turnover.
Most sectors closed higher, with jute and mutual funds gaining 3.3 per cent each, while travel stocks rose 2.4 per cent.
Deshbandhu Polymer topped the gainers’ list with 9.86 per cent rise to Tk23.40, while Far Chemical Industries gained 9.62 per cent.
Mutual funds dominated the list, with six funds posting gains between 6.25 per cent and 8.33 per cent. Indo-Bangla Pharmaceuticals and Sharp Industries also featured among the top 10 gainers, rising 6.35 per cent and 6.10 per cent respectively.
Progressive Life Insurance led the losers’ list with 3.28 per cent fall to Tk38.30, while Nurani Dyeing & Sweater declined 3.23 per cent. Queensouth Textiles, YPL and Beximco also featured among the top losers, falling 1.70-2.79 per cent.
Heidelberg Materials Bangladesh, United Insurance, Sonar Bangla Insurance, Safko Spinning Mills and SS Steel were among the other major decliners.
Fareast Knitting and Dyeing led the turnover chart with Tk31.78 crore in trades, followed by IPDC Finance with Tk19.58 crore and Dominage Steel Building Systems with Tk18.20 crore.
Malek Spinning Mills, Deshbandhu Polymer, BEXIMCO, Indo-Bangla Pharmaceuticals and Queen South Textiles were among the other actively traded stocks, each recording turnover above Tk14 crore.
IT Consultants, Square Pharmaceuticals and Sharp Industries also featured among the top turnover leaders.
The port city bourse, Chattogram Stock Exchange (CSE), also ended higher, with the CSCX index gaining 72.5 points and the CASPI index rising 125.8 points.
