Stocks rebound sharply at DSE as govt keeps fuel prices unchanged
Turnover rose significantly to Tk720 crore, and overall market capitalisation increased by around Tk4,000 crore.
Stocks staged a strong comeback today (1 April), with the benchmark Dhaka Stock Exchange (DSE) index posting a sharp gain after the government decided against raising fuel prices despite ongoing global energy market volatility.
The DSEX index surged 94 points, or 1.82%, to close at 5,272, recovering from a recent downturn linked to Middle East tensions. The blue-chip DS30 index also rose 41 points to settle at 2,001, reflecting renewed buying interest in fundamentally strong stocks.
Market activity turned decisively positive, with 327 advancing issues against 39 decliners, while 25 remained unchanged. Turnover rose significantly to Tk720 crore, and overall market capitalisation increased by around Tk4,000 crore.
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Analysts and participants attributed the rally to improved investor sentiment following the government's decision, which eased fears of inflationary pressures and rising business costs.
EBL Securities noted the rebound came after three consecutive sessions of losses, driven by broad-based bargain hunting. Buying pressure intensified throughout the day, leading to widespread price appreciation across sectors.
Sector-wise, pharmaceuticals dominated turnover at 16.4%, followed by engineering and textile sectors at 11.3% each. Top turnover leaders included Orion Infusion, Summit Alliance Port, Khan Brothers PP Woven Bag, Acme Pesticides, and City Bank, highlighting diversified participation.
All major sectors posted gains, with mutual funds leading at 4.9%, services up 3.6%, and general insurance rising 3.1%. Silva Pharma topped the gainers' list with a 10% rise, followed by Bangladesh National Insurance and Apex Spinning. Several mutual funds, including EBL NRB Mutual Fund and First Bangladesh Fixed Income Fund, were also among the top performers.
The financial sector, however, faced some pressure, with Peoples Leasing, Fareast Finance, and International Leasing among the top losers.
The positive trend was mirrored at the Chittagong Stock Exchange, where the CSCX index rose 118 points to 9,021, and the CASPI index gained 200 points to 14,779, with turnover at Tk42.51 crore.
