Stocks extend rally for second straight session
Stocks today extended strong upward momentum in the week's opening trading session, with the benchmark index of the Dhaka Stock Exchange (DSE) crossing the 5,700-point mark for the first time in nearly 22 months amid sustained buying interest and improving investor confidence. The broad index, DSEX, gained 66.9 points to close at 5,720, up from 5,653 in the previous session.
The market opened on a positive note and maintained steady gains throughout the day as investors actively participated across most sectors. Market analysts attributed the rally to improving market outlook, easing geopolitical concerns and the continued attractiveness of equity investments, supported by tax rebate facilities.
Turnover on the premier bourse rose sharply by 23.4 percent to Taka 13.7 billion from Taka 11.1 billion in the previous session. Heavy trading in BEXIMCO shares, which rebounded from a prolonged slump, also contributed significantly to the increased market activity. The banking sector accounted for the highest share of turnover at 16.3 percent, followed by miscellaneous (11.9 percent) and engineering (11.2 percent).
Most sectors posted gains during the session. The ceramic sector led the advance with a 2.9 percent gain, followed by miscellaneous (2.2 percent) and food (1.7 percent). In contrast, only general insurance and life insurance registered marginal declines of 0.4 percent and 0.1 percent, respectively. Out of the 396 issues traded on the DSE, 209 advanced, 129 declined and 58 remained unchanged, reflecting a broadly positive market sentiment.
The Chittagong Stock Exchange (CSE) also ended the session higher. Its Selective Categories' Index (CSCX) rose by 136.4 points, while the All Share Price Index (CASPI) gained 205.1 points.
