Dhaka: Stocks today managed a turnaround from the short-lived correction phase, riding on late-session buying activity, as investors turned back to the market owing to positive expectations amid favourable macroeconomic developments. DSEX, the broad index of the Dhaka Stock Exchange (DSE), edged up by 6.4 points to settle at 5,475 points as against 5,468 points in the previous trading session.
According to Bangladesh Sangbad Sangstha, market analysts observed that the market experienced seesaw trading throughout the session, with selling pressure dominating across major sectors for consecutive days since investors mostly adopted a wait-and-see approach considering the weakening strength of the market’s trend. Apparently, investor participation also remained subdued, with market turnover again falling by 3.6% to TK 7.1 billion from TK 7.3 billion in the previous session.
On the sectoral front, Pharma issues exerted the highest turnover at 16.5%, followed by Bank and Engineering sectors with 11.4% and 11.2% respectively. Sectors displayed mixed returns, with Paper, Jute, and Financial Institution exerting the most corrections on the bourse today, while Services, Bank, and Cement exhibited slight positive returns.
Out of the 397 issues traded, 113 advanced, 195 declined, and 89 remained unchanged. The port city bourse, CSE, also settled on green terrain. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) slightly advanced by 8.0 points and 6.7 points, respectively.