Stocks back to green after a bad day
The daily turnover declined by 28% to Tk783 crore, from Tk1,086 crore on Tuesday
After a sharp selloff in the previous session, Dhaka-Chattogram stocks bounced back to the green territory on Wednesday.
Thanks to the clearing of a confusion, rather fear, that there might be a tax on individual investors' capital gains.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), after a 0.63% slide on Tuesday, closed 0.36% higher at 6,338 on Wednesday.
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"Buyers' dominance prevailed throughout the session as the previous day's sharp correction in the majority of scrips created a bargain hunting opportunity for opportunistic investors," EBL Securities wrote in its daily market commentary.
But the index was still far from recovering fully, and cautious investors preferred to stay on the sidelines, it added.
The Dhaka bourse, on Wednesday, saw significantly less participation as the daily turnover declined by 28% to Tk783 crore, from Tk1,086 crore on Tuesday.
On the sectoral front, life insurance contributed the highest 23% to the DSE turnover, followed by food and general insurance sectors.
Unlike the previous bearish session, most of the sectors generated positive returns. General insurance, life insurance, and cement sectors led with 5.1%, 4.0% and 0.7% gains in their market capitalisations respectively.
Out of all the scrips, 123 scrips advanced, 46 declined, and 178 stayed the same in the DSE.
CSCX, the major index of the Chittagong Stock Exchange (CSE), was 0.17% up to 11,187 during the closing bell. Turnover at the port-city bourse came down to Tk14 crore from Tk18.5 crore on Wednesday.
