Stocks edge higher on large-cap support
Stocks today witnessed upward trend as major indices of both Dhaka and Chittagong Stock Exchanges were found rising with higher activities of some large-cap securities. DSEX, the broad index of the Dhaka Stock Exchange (DSE), surged by 76.4 points to settle at 5,594 points as against 5,518 points in the previous trading session. Market analysts observed that the bullish wave swept across the trading floor as investors continued chasing for the current rallies owing to positive expectation, driving price appreciations in the majority of scrips for consecutive sessions.
Meanwhile, market turnover also increased by 14.5% to Taka 13.0 billion from Taka 11.3 billion in the previous session. On the sectoral front, Pharmaceutical (14.6%) issues exerted the highest turnover, followed by Textile (12.4%) and Bank (10.5%) sectors. Sectors mostly displayed positive returns, out of which Engineering (4.4%), IT (3.4%) and Ceramic (3.1%) exhibited the most positive returns on the bourse today, while only Mutual Funds (-0.7%) and Textile (-0.1%) exerted marginal corrections.
Out of the 397 issues traded, 200 advanced, 139 declined and 58 remained unchanged. The port city bourse, CSE, also settled on positive terrain. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) propelled by 140.3 points and 232.4 points, respectively.
