Late buying lifts DSEX as bargain hunters return

The Dhaka Stock Exchange (DSE) extended its upward momentum for a second consecutive session today (24 June), as renewed buying interest in undervalued stocks helped the benchmark index close higher despite early selling pressure.

The DSEX, the prime index of the bourse, gained 11 points to settle at 5,616, while the blue-chip DS30 index edged up to 2,127. 

Market breadth remained positive, with 182 issues advancing against 150 decliners, while 65 securities remained unchanged. Turnover also saw a notable increase, rising 14% to Tk940 crore, indicating improved participation from investors.

According to EBL Securities, the market maintained its positive trajectory as investors continued to accumulate fundamentally strong yet undervalued stocks amid expectations of market-friendly developments. Easing concerns over global shipping disruptions, particularly in the Strait of Hormuz, also contributed to a more optimistic market sentiment.

However, the session was not without volatility. The market faced selling pressure from the outset, with cautious investors booking profits. Sellers dominated trading until mid-session, but a resurgence of buying interest in the latter half helped the market recover and close in the green, reflecting growing confidence in near-term prospects.

Sector-wise, engineering stocks led turnover, accounting for 14% of total transactions, followed by pharmaceuticals at 13.8% and general insurance at 11.4%. 

In terms of performance, financial institutions, IT, and mutual funds posted the highest gains, while miscellaneous, ceramic, and paper sectors faced corrections.

Among individual stocks, Beximco Pharmaceuticals topped the turnover chart, followed by Summit Alliance Port and BRAC Bank. 

Nahee Aluminum, Saif Powertec, and Regent Textile emerged as top gainers, while Beximco Limited, International Leasing, and Peoples Leasing led the losers.