Bangladesh’s stock market edged higher on Tuesday as late-session buying in insurance and selected momentum stocks helped the benchmark index recover from early losses.
The DSEX index of the Dhaka Stock Exchange (DSE) gained 0.14 per cent to close at 5,894 points, compared with 5,886 points in the previous session.
The market remained under pressure for most of the session as cautious investors assessed the sustainability of the recent rally, EBL Securities wrote in its post-closing market commentary.
However, renewed buying interest in general insurance, life insurance and selected active stocks towards the end of trading helped the index finish higher, it added.
Trading activity weakened despite the index gain, with DSE turnover declining 8.2 per cent to Tk1,112 crore from Tk1,211 crore in the previous session.
The number of trades fell 2.5 per cent to 268,395 from 275,288, while trading volume declined 9.8 per cent to around 441 million shares from 488 million shares.
Textile stocks accounted for the largest share of turnover with 20.3 per cent, followed by general insurance with 17.1 per cent and pharmaceuticals-chemicals with 12.2 per cent of the daily total at the premier bourse.
The market breadth remained weak, with 175 securities declining against 167 gainers, while 53 remained unchanged, indicating that Tuesday’s recovery was concentrated in selected sectors rather than broad-based buying.
General insurance recorded the strongest sectoral gain, rising 3.4 per cent. Life insurance advanced 2.7 per cent, while services and real estate gained 1.7 per cent.
Information technology recorded the steepest decline, falling 1.2 per cent. Ceramics and travel and leisure each declined 0.6 per cent.
ACME Laboratories topped the turnover chart with shares worth Tk36.25 crore changing hands, followed by Shurwid Industries at Tk33.40 crore and Summit Alliance Port at Tk29.17 crore.
The DS30 index, which tracks selected blue-chip stocks, declined 2.4 points, or 0.11 per cent, to close at 2,202 points.
The SME index DSMEX gained 0.09 per cent to settle at 1,158.
DSE’s market capitalisation increased by Tk2,450 crore, or 0.35 per cent, to Tk7.10 lakh crore from Tk7.08 lakh crore in the previous session.
The Chittagong Stock Exchange also ended higher. The CSCX index gained 2.7 points to close at 9,621, while the CASPI index advanced 0.16 per cent to 15,790 points.
CSE turnover, however, declined 20.2 per cent to Tk18.1 crore.
