Late buying lifts stocks as Dhaka bourse recovers from previous slide
The benchmark DSEX index gained 31 points, or 0.59%, to close at 5,316, reversing part of Tuesday’s (24 March) losses.
Stocks rebounded today (25 March) at the Dhaka Stock Exchange (DSE), with the benchmark index recovering from the previous session's sharp decline as late-session buying revived investor interest despite lingering global uncertainties.
The benchmark DSEX index gained 31 points, or 0.59%, to close at 5,316, reversing part of Tuesday's (24 March) losses.
The blue-chip DS30 index also edged higher, rising 8 points or 0.41% to settle at 2,019. Market breadth turned positive, with 241 issues advancing against 102 decliners, while 47 stocks remained unchanged.
Turnover on the premier bourse rose significantly, increasing by 23% to Tk604 crore, indicating improved participation compared to the previous session.
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However, market sentiment remained cautious as investors continued to weigh the implications of the ongoing geopolitical tensions in the Middle East.
Market analysts believe that while the day's recovery is a positive signal, the overall outlook remains uncertain.
Continued volatility in global energy markets and geopolitical developments are likely to keep investors cautious in the near term, with market direction depending on both external factors and domestic economic stability.
According to EBL Securities, the market regained some recovery momentum following the earlier selloff, supported by bargain hunting in the final trading hour.
For most of the session, indices moved sideways as both buyers and sellers remained active, reflecting uncertainty among investors.
The brokerage noted that renewed buying interest toward the close helped drive a broad-based price recovery.
Several heavyweight stocks played a key role in pulling the indices upward. Major contributors included BRAC Bank, Square Pharmaceuticals, British American Tobacco Bangladesh, Pubali Bank PLC, and Eastern Bank PLC.
On the sectoral front, engineering stocks dominated trading activity, accounting for 13.6% of total turnover, followed by pharmaceuticals at 12.7% and banking at 11.1%. Among individual stocks, ACME Pesticides Limited led the turnover chart, alongside Orion Infusion Limited, Sunlife Insurance Company Limited, and Lovello Ice-cream PLC.
Most sectors posted gains during the session, reflecting a broad-based recovery.
Mutual funds emerged as the top-performing sector with a 3.7% return, followed by general insurance at 3.1% and life insurance at 2.8%.
However, some sectors remained under pressure, with services declining by 1.0%, telecommunications by 0.7%, and cement by 0.2%.
Top gainers of the day included several mutual funds and manufacturing companies, while losses were concentrated among textile and smaller-cap stocks, indicating selective profit-taking in certain segments.
Meanwhile, the Chittagong Stock Exchange presented a mixed picture.
The CSCX index fell by 16 points to 9,101, while the CASPI index declined by 39 points to 14,914. However, turnover at the port city bourse increased by 6% to Tk20 crore.
