Dhaka stocks edged higher on Tuesday, snapping a two-session losing streak as investors picked up recently battered shares, but falling turnover and persistent selling pressure kept the recovery modest.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), gained just 4 points to close at 5,409 from 5,405 in the previous session.
Turnover, however, fell 8.1 per cent to Tk416.10 crore from Tk452.80 crore a day earlier. The number of trades dropped 14 per cent to 1,48,495, while trading volume declined 6.7 per cent to 15.7 crore shares.
The market opened higher but gradually lost momentum as selling pressure resurfaced. Intermittent recovery attempts failed to sustain gains in the latter half of trading, leaving the benchmark marginally higher at the close.
Of the 395 issues traded, 194 advanced, 134 declined and 67 remained unchanged.
The blue-chip DS30 index shed 5.1 points, or 0.2 per cent, to 2,089, while the DSMEX index, representing the SME market, fell 3.3 points, or 0.3 per cent, to 963.
The DSE’s market capitalisation edged up Tk700 crore to Tk6,83,600 crore from Tk6,82,900 crore in the previous session.
Textile stocks dominated trading, accounting for 23.7 per cent of total turnover, followed by general insurance at 12 per cent and banking at 9.8 per cent.
Textile shares generated Tk89.39 crore in turnover, compared with Tk45.11 crore for general insurance and Tk37.15 crore for banking.
Sectoral performance was mixed. Mutual funds led the gainers, rising 4.7 per cent, followed by general insurance at 2.3 per cent and jute stocks at 2 per cent.
Telecommunications and fuel and power stocks each lost 0.8 per cent, while travel and leisure declined 0.7 per cent.
Bangladesh Industrial Fin Co Ltd and Prime Bank 1st ICB AMCL Mutual Fund topped the gainers’ list, each rising 10 per cent.
Hamid Fabrics was the biggest loser, shedding 9.26 per cent, followed by Prime Textile Spinning Mills, down 8.97 per cent, and Apex Tannery, which fell 8.72 per cent.
Evince Textiles Limited led turnover with Tk13.17 crore, followed closely by Saiham Textile Mills at Tk13.12 crore and Sonali Aansh Industries at Tk11.53 crore.
