Stocks were back to black yesterday, snapping up three consecutive days of losses. The rally was led by mainly power, financials and pharmaceuticals issues.
The benchmark of the Dhaka Stock Exchange, DSEX, rose more than 38 points or 0.9% to close at 4,565.
The Shariah index, DSES, edged almost 10 points or 0.8% to 1,120. The blue chip comprising index DS30 was up 17 points or 1% to 1,782. The Chittagong Stock Exchange gained nearly 60 points to settle at 8,547.
All the large cap sectors posted positive return except telecommunication that was slightly down.
Non-banking financial institutions posted a heavy gain of 3.5%, followed by pharmaceuticals 1.7%, food and allied 1.4%, power 1%, cement 0.5% and banks 0.2%.
Trading at DSE remained vibrant. Total turnover stood at Tk485 crore, which is almost 15% over the previous session.
Lanka Bangla Securities said market bounced back after three days of correction with improved participation backed by rally in multinational firms and power stocks over the course of the trading session.
After continued sell-off in last few sessions, investors recovered some early losses as investor showed buying appetite on fundamental stocks.
Activities increased in DSE where trade and volume were up 9.4% and 9.4% respectively.
IDLC Investments said market bounced back riding on investors’ expectation that the worst have passed.
Export data for trouble ridden FY2014-15 revealed a growth of 3.35% and a sharp annual rise of 8.2% for the month of June, which created a respectable scenario in investors’ mindset, it said.
Deposit rate has been reported to be further fallen down to a four-year low of 6.99% for the month of May, indicating the equity investment to be more attractive, it said.
Beximco Limited topped the liquidity chart with turnover worth Tk22 crore.
