Stocks rebound after four-session slide

Stocks rebounded today after four consecutive sessions of decline as bargain hunters returned to the market, picking up recently corrected shares, although overall sentiment remained subdued amid concerns over weaker corporate earnings and persistent domestic challenges.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 26.1 points to close at 5,550, compared with 5,524 points in the previous session.

The market opened on a positive note and maintained its upward trend throughout the session, with gains in major scrips helping the key indices finish in positive territory.

Turnover also increased by 10.2 percent to Taka 6.9 billion from Taka 6.3 billion in the previous session.

Textiles accounted for the highest share of turnover at 24.0 percent, followed by general insurance at 22.2 percent and pharmaceuticals at 10.9 percent.

Among the sectors, textiles gained 1.2 percent, while life insurance and miscellaneous sectors advanced 1.0 percent each. Services declined 0.6 percent, jute 0.2 percent and food 0.1 percent.

Of the 395 issues traded, 187 advanced, 129 declined and 79 remained unchanged.

The Chittagong Stock Exchange (CSE) also closed higher, with its selected index, CSCX, gaining 27.6 points and the All Share Price Index (CASPI) rising 42.0 points.