Stocks Rebound After Brief Market Correction
Stocks returned to an upward trend today after a brief pause, supported by active buying from bargain hunters and sustained investor optimism over positive market expectations and hopes for a favourable resolution to the ongoing Middle East conflict. The broad index of the Dhaka Stock Exchange (DSE), DSEX, gained 16.1 points to close at 5,622, up from 5,606 in the previous trading session. Trading began on a subdued note, continuing the momentum of the previous session.
However, bargain hunters gradually entered the market and maintained buying support throughout the day. Following active participation from both buyers and sellers, strong buying interest in the final trading hours pushed the index into positive territory at the close. Market turnover also increased by 1.3 percent to Taka 12.1 billion, compared with Taka 12.0 billion in the previous session. Among the sectors, textile stocks accounted for the largest share of turnover at 15.9 percent, followed by engineering at 11.8 percent and pharmaceuticals at 10.1 percent.
Most sectors posted gains during the session. The information technology sector led the advance with a 3.3 percent rise, followed by services with 3.1 percent and ceramics with 2.0 percent. On the other hand, miscellaneous stocks declined by 3.0 percent while life insurance and general insurance sectors fell by 0.9 percent and 0.8 percent respectively. Meanwhile, trading at the port city bourse ended in negative territory. The Chittagong Stock Exchange's Selective Categories Index (CSCX) and All Share Price Index (CASPI) fell by 17.2 points and 22.0 points respectively at the close of trading.
