Stocks rebounded yesterday as some investors became convinced that the market had found a bottom after a three-day heavy loss.
The market opened higher on buying spree mainly on banking stocks, which continued as days wore on with subdued previous session’s panic sale.
At the end of the day, the Dhaka Stock Exchange benchmark index DSEX gained 48 points or 1% to 4,776, bouncing back from its previous session’s six-week low.
The Shariah index DSES rose marginally 8 points or 0.8% to 1,144.
The blue chip comprising index DS30 was up about 19 points or 1% to 1,813.
The Chittagong Stock Exchange Selective Category Index CSCX settled at 8,912, rising 108 points.
Unlike the previous sessions, almost all sectors moved upward except food and allied, and textile that dropped marginally.
Cement sector was the highest gainer, rising more than 3%, breaking steep fall in previous session.
Heavyweight banks showed robust gain of 2.3%, driven by Brac Bank surging over 6%.
Telecommunications posted a gain of 0.8%, extending its gaining streak for the second straight session.
All other major sectors including power, non-banking financial institutions, pharmaceuticals, engineering and mutual fund closed higher.
Trading activities improved, with the DSE turnover crossing Tk400-crore mark.
It stood at Tk420 crore, which is 23% higher over the previous session’s value.
The gainers took a lead over losers as out of 316 issues traded, 176 advanced, 102 declined and 38 remained unchanged.
Lanka Bangla Securities said as quarterly economic data is mixed, investors are focusing on earning season that is going to unfold soon.
United Commercial Bank was the most traded stocks with shares worth about Tk18 crore changing hands.
It was followed by Mozzaffar Hossain Spinning Mills, Beximco Pharmaceuticals, Lafarge Surma Cement, Brac Bank and Trust Bank.
