Stocks rebound after three days

Stocks listed on the Dhaka Stock Exchange (DSE) yesterday managed to snap a three-day losing streak even though investor participation fell.
The DSEX, the benchmark index of the Dhaka bourse, rose 30 points, or 0.44 per cent, to 6,868.
"Since the market's prime index had dropped over the past three trading days, so too did the value of many stocks," a stock broker said.
Investors then took position in devalued sectors in hopes that the market would soon recover.
"They do this whenever they see the market dip," he added.
However, turnover at the DSE stood at Tk 807 crore for the day, down 25 per cent from Tk 1,040 crore the day before.
At the DSE, 159 stocks advanced, 158 declined and 60 remained unchanged.
The benchmark index of the country's premier bourse returned to the green after three consecutive sessions as optimistic investors demonstrated their buying interest in sector specific stocks during the last hours of trading, International Leasing Securities said in its daily market review.
The market had opened on a positive note but the DSEX took a downward turn within the first hour of trade before going on to recover later in the day.
Investors' enthusiasm in the miscellaneous, life insurance, and food and allied sectors helped the benchmark index return to the green.
However, some investors reshuffled their portfolios in the financial institution, mutual fund and cement sectors, it added.
Jute Spinners topped the gainers, rising 9.94 per cent, followed by Khan Brothers PP Woven Bag, AMCL (Pran), Metro Spinning, and Libra Infusion.
Stocks of Beximco Ltd traded the most, worth Tk 124 crore, followed by Fortune Shoes, One Bank, Genex Infosys, and Sonali Paper and Board Mills.
Kattali Textile shed the most, dropping 6.8 per cent, followed by Fareast Islami Life Insurance, Information Services Network, Aziz Pipes, and Usmania Glass.
Meanwhile, the Chittagong Stock Exchange (CSE) soared yesterday as the CASPI, the main index of the port city bourse, rose 90 points, or 0.45 per cent, to 20,075. Among 257 traded stocks, 106 stocks advanced, 124 fell and 27 remained the same.
Comments