Dhaka:Stocks continued their modest recovery for the third straight session as investors purchased shares that had been recently undervalued, despite ongoing concerns about weaker corporate earnings and geopolitical uncertainties.
According to Bangladesh Sangbad Sangstha, the DSEX, the broad index of the Dhaka Stock Exchange (DSE), increased by 22.7 points, closing at 5,452 points compared to 5,429 points in the previous session. The market, which opened on a higher note, experienced a slight pullback early on before late-session buying interest surged, maintaining the benchmark index in positive territory with widespread price gains.
Market turnover also saw a significant rise of 20.1 percent, reaching Tk 500 crore from Tk 420 crore in the previous session. Sector-wise, textiles led with the highest turnover share at 24.7 percent, followed by engineering at 13.6 percent, and general insurance at 12.6 percent.
Most sectors reported positive returns, with information technology leading the growth, climbing 2.6 percent. Mutual funds followed with a 2.3 percent increase, and financial institutions rose by 1.9 percent. On the other hand, the jute sector saw a decline of 2.0 percent, while telecommunications and banking sectors fell by 0.2 percent and 0.1 percent, respectively.
Out of the 395 issues traded, 237 advanced, 87 declined, and 71 remained unchanged. The Chittagong Stock Exchange (CSE) also ended on a positive note, with its Selective Categories' Index (CSCX) gaining 36.1 points and the All Share Price Index (CASPI) increasing by 61.0 points.