Stocks witness strong rebound

Stocks on Monday witnessed a strong rebound after five straight sessions of losses, as cautious selling eased and bargain hunters seized the opportunity to buy beaten-down scrips on expectations of clearer political direction surrounding the upcoming national election.

DSEX, the broad index of the Dhaka Stock Exchange (DSE), recovered 48.1 points to settle at 4,875 points as against 4,826 points in the previous trading session.

The market opened on a positive note, carrying over yesterday’s late session recovery momentum, and remained buoyant throughout the session, allowing the index to close in positive territory after consecutive losing sessions.

Although expectations of emerging political clarity supported the recovery, overall market sentiment remained cautious, with participation broadly subdued amid lingering uncertainties.

Meanwhile, market turnover increased by 35 per cent to Tk 3.9 billion from Tk 2.9 billion in the previous session.

On the sectoral front, Textile (16.7 per cent) issues exerted the highest turnover, followed by Engineering (11.8 per cent) and Pharma (11.7 per cent) sectors. Sectors displayed positive returns, out of which Cement (2.9 per cent), Services (2.7 per cent) and Paper (2.6 per cent) exhibited the most positive returns.

Out of the 397 issues traded, 302 were advanced, 37 were declined, and 58 remained unchanged.

The port city bourse, CSE, also settled on a green zone. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) increased by 25.7 points and 48.1 points, respectively.