Dhaka stocks staged a late rebound on Monday as investors returned to beaten-down shares, reversing a 66.4-point intraday fall and pushing the benchmark into positive territory.
The DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 9 points, or 0.2 per cent, to close at 5,567, up from 5,558 in the previous session.
The index hit an intraday low of 5,491.6, its lowest level since 9 June, as selling intensified and pushed it below the 5,500-point mark before last-minute buying reversed the decline.
The sharp turnaround underscored the market’s volatility while showing investors’ willingness to accumulate selected shares at lower prices. Turnover rose 4.8 per cent to Tk571.30 crore, pointing to stronger trading activity despite the mixed market breadth.
A total of 185,987 trades were recorded, with 20 crore shares changing hands. Of the 395 issues traded, 168 advanced, 145 declined and 82 were unchanged.
Textiles dominated turnover, accounting for 29.8 per cent of total trading, followed by general insurance with 12.8 per cent and pharmaceuticals with 12 per cent.
Textiles also led sectoral gains, rising 2.7 per cent. Travel and leisure gained 1.9 per cent and financial institutions 0.9 per cent. Cement fell 1.1 per cent, while paper and printing and telecommunications declined 0.5 per cent and 0.4 per cent, respectively.
Sharp Industries led turnover, with Tk28.28 crore worth of shares changing hands, or 5.08 per cent of total turnover. Saiham Cotton Mills followed with Tk21.50 crore and Envoy Textiles with Tk20.78 crore. Malek Spinning Mills and Beximco Pharmaceuticals recorded turnover of Tk16.17 crore and Tk15.55 crore, respectively.
Saiham Cotton Mills was the top gainer, rising 9.95 per cent, followed by Sea Pearl Beach Resort & Spa at 8.36 per cent and Reliance Insurance at 8.20 per cent.
Dominage Steel Building Systems and Tung Hai Knitting were also among the major gainers. Sena Insurance was the biggest loser, falling 9.98 per cent. Crown Cement dropped 5.35 per cent and Hami Industries 4.99 per cent. CAPM IBBL Islamic Mutual Fund, First Finance and Prime Textile were among the other notable decliners.
The late recovery left the DSEX marginally higher despite the session’s wide swings, reflecting a market still caught between cautious selling and selective bargain buying, said analysts.
