Stocks extend recovery for fourth straight session

Stocks today extended recovery for the fourth consecutive session as opportunistic investors continued bargain hunting, particularly in beaten-down stocks.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), rose 60.1 points to 5,592, from 5,532 in the previous trading session.

The market opened on a positive note and maintained its buoyant trend throughout the session, supported by strong investor participation and broad-based buying.

Late-session buying further lifted the benchmark index close to the 5,600-mark following its recent declines.

Meanwhile, market turnover increased 14.0 percent to Tk 7.5 billion, compared with Tk 6.6 billion in the previous session.

On the sectoral front, Textile stocks accounted for the highest share of turnover at 24.0 percent, followed by General Insurance at 13.2 percent and Bank at 12.0 percent.

All sectors posted positive returns, with Mutual Fund gaining 2.8 percent, Cement 2.6 percent and Financial Institution 2.6 percent.

Of the 395 issues traded, 285 advanced, 58 declined and 52 remained unchanged.

The port city bourse, Chittagong Stock Exchange (CSE), also closed in positive territory. Its Selective Categories' Index (CSCX) and All Share Price Index (CASPI) advanced 85.5 points and 119.9 points, respectively.