Dhaka:Stocks extended their recovery for the second consecutive session, driven by bargain hunters attracted by the lower prices of beaten-down stocks.
According to Bangladesh Sangbad Sangstha, the DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), gained 11.7 points to settle at 5,476 points, up from 5,464 points in the previous session. The market experienced volatility throughout the day, with active participation from both buyers and sellers. Strong buying pressure in selected stocks contributed to the market's higher close.
Despite the recovery, overall investor sentiment remained subdued due to expectations of lackluster corporate earnings, as noted by market observers. Turnover fell by 11.8 percent to Tk 5.3 billion, compared to Tk 6.0 billion in the previous trading session.
The textile sector led the trading activity, accounting for 32.0 percent of the day's total turnover, followed by pharmaceuticals at 9.8 percent and general insurance at 9.5 percent. Sector performance was mixed, with the jute sector advancing 3.2 percent, and the miscellaneous and ceramic sectors each gaining 1.5 percent. In contrast, the life insurance sector declined by 1.4 percent, services by 1.0 percent, and textile by 0.5 percent.
Out of 395 issues traded, 169 advanced, 148 declined, and 78 remained unchanged. The Chittagong Stock Exchange (CSE) also ended the session positively, with the CSE Selective Categories' Index (CSCX) gaining 8.0 points and the All Share Price Index (CASPI) advancing 5.2 points.