Stocks on the Dhaka Stock Exchange (DSE) bounced back from a three-month low on Monday.
Despite the prices and the benchmark index gaining ground, turnover dropped to Tk395 crore, the lowest level since June 25.
DSEX, the broad index of the DSE, rose by 67.3 points or 1.3% to close at 5,112 points compared to the previous session’s 5,044 points.
The market, which had been in a bearish phase, saw easing sell pressure from nervous investors, coinciding with renewed interest from bargain-hunting traders, Brokerage firm EBL Securities wrote in its post-closing market commentary.
Despite a shaky start, the session witnessed buyers gradually taking control, pushing the index upward throughout the day.
However, concerns remain that the recovery could be short-lived, with turnover dipping by 10.8% to Tk395 crore, said EBL Securities analysts.
On the sectoral front, the pharma sector led turnover with 12.3% contribution to the daily total on the DSE, followed by engineering sector’s 11.4% and general insurance sector’s 9.6%.
All sectors ended in the green, with IT, paper, and ceramic stocks showing the highest gains, up 5.7%, 5.0%, and 4.9% on average, respectively.
Out of 397 issues traded, 300 advanced, 48 declined, and 49 remained unchanged.
The Chittagong Stock Exchange (CSE) mirrored the positive trend, with its Selective Categories’ Index (CSCX) rising by 11.9 points and the All Share Price Index (CASPI) advancing by 9.0 points.
