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DSEX rebounds 0.38% with lowest turnover in 7 months

DSEX rebounds 0.38% with lowest turnover in 7 months
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The Dhaka Stock Exchange (DSE) indices rebounded on Wednesday after losses in preceding sessions, but turnover dropped to its lowest level in around seven months.

Analysts blamed investors’ caution over weak corporate earnings, domestic pressures and geopolitical uncertainty.

The broad-based index DSEX rose 0.38 per cent to 5,429.37, while turnover fell to Tk416.15 crore.

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The blue-chip index DS30 gained 0.15 per cent to 2,092.63, and the DSE Shariah Index rose 0.21 per cent to 1,072.44.

Selective bargain hunting in recently beaten-down shares helped the market recover, though broader participation remained subdued, EBL Securities wrote in its post-closing market commentary.

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Of 386 companies traded, 197 advanced, 137 declined and 51 were unchanged. A total of 15.40 crore shares and mutual-fund units changed hands.

Textiles accounted for the largest share of turnover with a 24 per cent contribution, followed by general insurance with 13.4 per cent and pharmaceuticals with 8.8 per cent.

General insurance led sectoral gains with a 2 per cent rise, followed by life insurance with 1 per cent and engineering with 0.9 per cent. Jute fell 4 per cent, services 1 per cent and financial institutions 0.9 per cent.

Evince Textiles led the turnover table, followed by Sonali Aansh Industries, Prime Finance First Mutual Fund, Paramount Textile and Apex Spinning.

Osmania Glass Sheet Factory, Prime Finance First Mutual Fund and Techno Drugs were among the top gainers, while Nurani Dyeing & Sweater, Sharp Industries and Sonali Aansh Industries were among the biggest losers.

The Chittagong Stock Exchange, on the other hand, ended lower, with both its Selective Categories Index and All Share Price Index declining.

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