Indices close higher as large-cap stocks gain

Wednesday's gains for some large-cap stocks

• Delta Life Insurance: 4.6%
• British American Tobacco: 2.1%
• Beximco: 2%
• Square Pharma & Renata: 1.1%

Dhaka and Chattogram stocks returned to the green territory, as investors' participation in some large-cap scrips helped equity indices to close higher on Wednesday.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), advanced by 30.8 points or 0.4% to close at 6,949.

However, amid a lack of clear market direction, the overall participation by investors remained sluggish as daily turnover in the DSE further decreased by 2.3% and stood at Tk888 crore.

Over the last week, the daily turnover managed to stay above Tk1,000 crore in the falling market, but on Tuesday, it fell below the threshold when bargain hunters confronted sellers to halt the market's fall.

Large-cap stocks, following their recent leg of corrections, were trying to recover over the session and the majority of them gained at the end.

On the other hand, small-cap stocks continued their price corrections for the second consecutive session after a week-long rise.

Out of the 385 issues traded, 185 advanced, 135 declined, and 65 remained unchanged in the DSE on Wednesday.

Textile, miscellaneous, and engineering sectors contributed the maximum 16.3%, 14.2%, and 13.6% respectively to the premier bourse's daily turnover on Wednesday.

Most sectors displayed satisfactory performance, out of which paper and packaging, food, and textile registered the largest 3.3%, 1.5%, and 1.3% market capitalisation gains respectively.

On the other hand, cement, jute, and services led the sectoral table of losers as their respective market capitalisations declined by 1.9%, 1.8% and 1%.

Indices of the Chittagong Stock Exchange also closed higher amid a flat turnover.

CSCX, the broad index in the port city bourse, closed 47.9 points higher at 12,192 while the daily turnover slightly inched up to Tk24.5 crore.