DSE rebounds as late buying ends two-day slide
However, turnover declined by 9% to Tk379cr
The Dhaka Stock Exchange (DSE) bounced back today (2 November), ending a two-day slump with late buying lifting the DSEX by 36 points to 4,950 after a 114-point drop, hinting at a mild recovery in investor sentiment.
Today's session began with cautious optimism, supported by light bargain hunting from investors looking to capitalise on the recent market correction. However, the momentum proved fragile.
According to EBL Securities, the market initially experienced modest buying pressure, but this quickly faded as renewed selling dragged the index into negative territory by mid-session. It was only in the latter half of the day that sustained buying interest returned, allowing the index to bounce back and close in the green.
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Despite the day's recovery, overall participation remained muted. Turnover declined by 9% to Tk379 crore, reflecting continued investor hesitation amid political uncertainties and broader concerns over ongoing restructuring efforts in the financial sector, according to the EBL Securities.
A total of 285 issues advanced, 56 declined, and 47 remained unchanged, indicating a broadly positive session despite the cautious undertone.
Sector-wise, engineering stocks led market activity, accounting for 15.4% of total turnover. Pharmaceuticals followed with 13.7%, while textile issues made up 11.2%.
Most sectors closed higher, with textiles, general insurance and travel showing the strongest gains. Services were the only sector to finish in the red, slipping 0.4%.
The day's top traded stocks included Orion Infusion, Shahjibazar Power, Khan Brothers PP Woven Bag, Dominage Steel and Simtex Industries, all of which saw heightened investor interest.
Meanwhile, companies that are out of operation or consistently loss-making dominated the day's top gainers. Nurani Dyeing surged 10%, followed closely by Zeal Bangla Sugar, BBS Cables, BD Thai Aluminium and Deshbandhu Polymer, each posting gains of around 9.8% to 9.9%.
On the flip side, non-bank financial institutions facing liquidation pressures led the list of top losers. International Leasing plunged 10%, with Fareast Finance, Peoples Leasing, Premier Leasing, Union Capital, BIFC and FAS Finance also witnessing steep declines ranging from 8% to nearly 10%.
Despite the recovery at the Dhaka bourse, the Chittagong Stock Exchange (CSE) ended marginally lower. The CSCX index dipped 0.87 points to close at 8,536, while the CASPI edged down 1.92 points to settle at 13,850. Total turnover at the port city bourse stood at Tk12.51 crore.
