DSEX, turnover rebound to one-month high
DSEX, the broad based index of the Dhaka Stock Exchange (DSE), closed at 6,264 on Monday which was the highest in the last one month
In a bid to come out of the weeks-long downward spiral, Dhaka stocks continued their steady recovery in the ninth session.
DSEX, the broad based index of the Dhaka Stock Exchange (DSE), closed at 6,264 on Monday which was the highest in the last one month.
Also, turnover in the premier bourse surged to Tk592 crore, the highest since 6 November.
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Thanks to the bargain hunters who have been looking for opportunities in oversold stocks.
"The benchmark index of the capital bourse returned to green territory after a single-day break as buyers outnumbered sellers across the trading floor owing to investors' continued chase for sector-specific scrips with quick gain potentials,'' EBL Securities wrote in its daily market commentary.
The political uncertainty ahead of the upcoming national election, macroeconomic adversities hurting both the fund flows and corporate earnings, and a lack of confidence together had dragged down the DSEX down to below 6,200 mark on 28 November.
The broad-based index on Monday managed to stay afloat throughout the session, riding on buyer dominance on particular scrips. But some cautious investors continued their profit-booking approach as they are shying away from taking long-term positions in equities owing to the prevailing concerns regarding the market momentum, EBL Securities added.
On the sectoral front, pharmaceuticals, engineering, and miscellaneous contributed the highest 16.6%, 16.1% and 8.5% respectively of the total turnover on Monday.
Most of the sectors displayed positive returns, out of which general insurance, cement, and IT led with 1.5% to 2% capital gains on average.
On the other hand, mutual funds, travel and leisure sectors led the losing sectors of the day as their market capitalisations declined by up to 0.5%.
121 scrips advanced, 43 declined and 228 remained unchanged on the DSE on Monday.
Of the 401 scrips, 230 were stuck on the floor prices as no buyer was interested at the artificially held prices.
Anlima Yarn Dyeing, Shurwid Industries, Olympic Accessories, Aramit Cement, SK Trims, Pacific Denims, Midland Bank, Evince Textile, Eastern Insurance, Paper Processing were the top ten gainers of the day on the DSE.
The Chittagong Stock Exchange also saw a positive momentum in indices and turnover.
