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Stocks ended higher on Thursday as bargain hunters took control to seize quick-gain opportunities following the recent downtrend.
The prime index of the Dhaka Stock Exchange (DSE) increased 62.81 points to settle at 5,414.
The equity indices of the Dhaka bourse rose into green territory right after lacklustre trading activities in the previous session as most of the scrips observed price appreciation, with bargain hunters taking control to seize quick gain opportunities following the recent downtrend, according to EBL securities.
Trading and official activities on the bourses resumed on Wednesday after a three-day break, in line with the reopening of banks, as broadband internet connections were resorted on Tuesday night after a five-day blackout.
However, stock trading time was cut down to 3 hours from 11:00am to 2:00pm instead of 10:00am to 2:20pm due to reduced banking hours.
The stock market remained closed for three days to Tuesday as transactions on banks remained closed due to general public holidays.
The general holidays come amid unrest and subsequent curfews enforced by the government since Friday midnight as anti-quota protest and violence spread across the country, leaving more than 200 people dead.
The blue-chip index DS30, a group of 30 prominent companies, saw a 24.25-point increase to 1932.76, while the DSES Index, which represents Shariah-based companies, saw a 13.81-point increase to 1,183.37 at the end of the day.
However, the overall market sentiment still remains subdued as cautious investors still shy away from taking positions in equities amidst uncertainties regarding the market’s outlook, being apprehensive of the prevailing unrest, EBL securities said.
Turnover, a crucial indicator of the market, stood at Tk 4.97 billion, up 212 per cent from the previous trading day.
The majority of the stocks saw a price increase, as out of the 392 issues traded, 286 closed higher, 66 ended lower, and 40 remained unchanged on the DSE trading floor.
Square Pharmaceuticals was the most-traded stock, with shares worth Tk 350.92 million changing hands, followed by Orion Infusion Ltd, Taufika Foods and Lovello Ice-cream PLC, Agni Systems Ltd and Sea Pearl Beach Resort & Spa Limited.
The Chittagong Stock Exchange (CSE) also ended lower, with its All Share Price Index (CASPI) losing 27 points to settle at 15415 and the Selective Categories Index (CSCX) losing 22.85 points to settle at 9286.
The port city bourse traded 1.72 million shares and mutual fund units with a turnover volume of Tk 35.46 million.