Dhaka: The benchmark DSEX index of the Dhaka Stock Exchange (DSE) rebounded today as late-session bargain hunting provided a much-needed cushion to limit the market's free fall amid lingering investor concerns over the market's momentum. DSEX recovered 29.5 points and settled at 4,732 points as against 4,703 points in the previous trading session.
According to Bangladesh Sangbad Sangstha, the session initially extended the bearish tone from previous sessions, with the intraday DSEX shedding 82 points within the first 30 minutes of trading. However, the market gradually recovered from the initial plunge as opportunistic investors opted to accumulate the beaten-down scrips across the trading board. They perceived most scrips to be traded at attractive price levels, which helped the broad index claw back early losses and close in a positive zone.
Market participation, however, remained sluggish, as total turnover again decreased by 22.2% to Taka 3.0 billion from Taka 3.8 billion in the previous session. On the sectoral front, Bank issues exerted the highest turnover at 11.9%, followed by Textile at 11.4% and Engineering at 11.3%. Almost all sectors displayed positive returns, with Financial Institution, Jute, and Cement exhibiting the most positive returns at 5.0%, 4.8%, and 3.3%, respectively. Conversely, only Telecom and Miscellaneous sectors exerted corrections on the bourse today.
Out of the 397 issues traded, 234 advanced, 107 declined, and 56 remained unchanged. Meanwhile, the port city bourse, CSE, settled on a negative zone. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) decreased by 50.9 points and 74.4 points, respectively.