DSE breaks losing streak, but rally lacks steam
Restrained buying interest prevented any broad-based rally from taking shape.
The benchmark indices of the Dhaka Stock Exchange (DSE) posted a slight gain today (19 May), snapping a two-session losing streak in a modest market recovery.
The gains, however, lacked conviction. Trading activity remained subdued as investor participation stayed low, with many market players continuing to exercise caution amid a weak short-term trend. Restrained buying interest prevented any broad-based rally from taking shape.
The DSEX rose 8 points to close at 5,212. The blue-chip DS30 index added 2 points to settle at 1,970, while the Shariah-based DSES index edged up 3 points to 1,059.
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Advancers outnumbered decliners — 181 issues gained against 138 that fell, with 74 stocks ending unchanged. Market turnover, however, slipped 6.89% to Tk676 crore from Tk726 crore in the previous session.
In its daily market review, EBL Securities noted that the bourse traded largely flat as investors' selectively accumulated large-cap stocks, though participation remained muted amid persistent caution over near-term market momentum. Indices held in positive territory throughout the session on resilient bargain-hunting interest.
Trading volumes were also weighed down by investors trimming leveraged positions and managing liquidity ahead of upcoming festival holidays, the brokerage added.
Market indices remained firmly in positive territory, with resilient bargain-hunting interest throughout the session.
However, trading activity stayed relatively subdued amid sustained cautious sentiment, while paring back exposure from leveraged positions and liquidity considerations ahead of upcoming festival holidays also somewhat weighed on the market's overall turnover.
On the sectoral front, Pharmaceuticals led turnover with a 16.9% share, followed by General Insurance at 13.6% and Banking at 11.4%. Among sector performances, Ceramic and Jute each rose 1.9%, and Services gained 1.3%. On the downside, Mutual Funds fell 0.8%, Food declined 0.6%, and Life Insurance dropped 0.5%.
At the Chattogram Stock Exchange (CSE), the market also closed in the green. The Selective Categories' Index (CSCX) gained 23.0 points, while the All Share Price Index (CASPI) rose 31.1 points.
