Dhaka stocks staged a broad-based recovery on Tuesday as bargain hunters returned to the market after a prolonged decline, as gas supply has been restored to where it was two months ago.
The benchmark index gained 93 points amid improved investor sentiment following the prime minister’s assurances of better industrial energy supply.
The DSEX, the broad index of the Dhaka Stock Exchange (DSE), rose 1.7 per cent to close at 5,472, recovering from Monday’s 39.6-point fall to 5,379.
The blue-chip DSE 30 Index advanced 24.9 points, or 1.2 per cent, to 2,088, while the DSE SME Index, which tracks small and medium enterprises, gained 13.2 points, or 1.3 per cent, to 1,034.
Market turnover increased 3.8 per cent to Tk504.9 crore from Tk486.6 crore in the previous session. However, the number of trades declined 5.7 per cent to 1,52,421, while trading volume fell 7.7 per cent to 17.2 crore shares.
Market capitalisation stood at Tk6.86 lakh crore, up 0.2 per cent from the previous session.
The rebound followed renewed buying interest after the government’s assurance that industrial gas and electricity supply would improve.
Market participants said bargain hunting spread across sectors, although domestic and geopolitical concerns continued to weigh on investor sentiment.
Of the 395 securities traded, 333 advanced, 15 declined, and 47 remained unchanged, reflecting broad-based buying.
Textile stocks led turnover, accounting for 21.9 per cent of total market transactions, followed by general insurance at 19.4 per cent and banks at 12.2 per cent.
Services and real estate posted the highest sectoral gain, rising 4.1 per cent, followed by general insurance with a 3.8 per cent rise and paper and printing with a 3.7 per cent gain.
Yeakin Polymer was the day’s top gainer, rising 10 per cent, followed by Al-Haj Textile Mills with a 9.97 per cent gain, Orion Infusion with a 9.96 per cent increase and Samorita Hospital with a 9.90 per cent rise.
Al-Arafah Islami Bank was the biggest loser, declining 3.82 per cent. PHP First Mutual Fund and Popular Life First Mutual Fund each fell 2.86 per cent, while Zahintex Industries declined 2.56 per cent.
