Dhaka:Stocks rebounded today after a four-day losing streak, as bargain hunters moved in to purchase recently corrected shares, despite continued caution among investors.
According to Bangladesh Sangbad Sangstha, the DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), increased by 39.0 points, or 0.72 percent, reaching 5,464 points compared to 5,425 points in the previous session.
The market experienced volatility throughout the session. It saw initial gains as investors selectively bought discounted stocks, but the upward trend weakened due to renewed selling pressure during the middle of the session. However, late-session buying interest allowed the indices to retain their gains and close positively.
Market turnover also saw a rise, indicating increased participation. Turnover climbed 7.2 percent to TK 6.0 billion from TK 5.6 billion in the previous session. The Textile sector led trading activity, making up 32.0 percent of the day's total turnover, followed by Pharmaceuticals and Chemicals at 9.8 percent and General Insurance at 9.5 percent.
Sectoral performance was mixed, with Jute stocks seeing the highest gain of 5.0 percent, followed by Paper and Printing at 2.8 percent, and Engineering at 2.2 percent. Conversely, Mutual Funds saw the steepest decline, falling 1.5 percent, while Financial Institutions dropped 0.9 percent, and Services and Real Estate fell 0.4 percent.
Out of 395 issues traded, 188 advanced, 128 declined, and 79 remained unchanged, indicating a moderately positive market breadth despite prevailing cautious sentiment. The Chittagong Stock Exchange (CSE) also closed higher, with its selected index CSCX gaining 70.3 points and the All Share Price Index (CASPI) rising 98.1 points.
Market analysts noted that the day's recovery was primarily driven by bargain hunting rather than a broad-based improvement in investor confidence, suggesting potential continued volatility in the near term.