Dhaka:Stocks edged higher today, putting an end to a two-session losing streak, as investors engaged in selective bargain hunting of recently battered shares. Despite this, the overall market sentiment remained subdued due to persistent uncertainty.
According to Bangladesh Sangbad Sangstha, the DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 4.0 points, closing at 5,409 points compared to 5,405 points in the previous trading session. The market experienced volatility, with an initial rise in the benchmark index losing momentum amid renewed selling pressure. Despite attempts at recovery, the index struggled to maintain gains in the latter half of the session, finishing marginally higher.
Market turnover was recorded at Tk 410 crore, down from Tk 450 crore in the previous session. Textile stocks led the turnover, contributing 23.7 percent of the total, followed by general insurance at 12.0 percent and banking at 9.8 percent.
Sectoral performance remained mixed, with mutual funds achieving the highest gains at 4.7 percent, followed by general insurance with a 2.3 percent increase and jute at 2.0 percent. Conversely, telecommunications and fuel and power stocks each declined by 0.8 percent, while travel stocks fell 0.7 percent.
Out of 395 issues traded on the DSE, 194 advanced, 134 declined, and 67 remained unchanged, reflecting a positive market breadth despite ongoing selling pressure in several sectors.
In contrast, the Chittagong Stock Exchange (CSE), the port city bourse, closed lower. Its selected indices, CSCX and CASPI, decreased by 28.5 points and 29.2 points, respectively.