Stocks end positive as DSEX stays afloat in green territory

Stocks closed higher on Wednesday as bargain hunters opted to take positions in sector-specific scrips.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), increased 2.55 points to settle at 5,196.66.

The benchmark index of the Dhaka bourse managed to stay afloat in green territory, withstanding the late-session volatility as bargain hunters opted to take positions in sector-specific scrips while most investors preferred to remain watchful due to prevailing worries regarding the market's momentum, according to EBL Securities.

The blue-chip index DS30, comprising 30 leading companies, increased by 0.92 points to 1,890.49, while the DSES Index, representing Shariah-compliant companies, increased by 0.07 points to 1,158.42 by the close.

Although the market observed a short-lived uptrend till the mid-session, risk-averse investors’ subsequent cautious selling approach eroded the early session optimism. However, buying activity in particular large-cap scrips helped the broad index to end in a positive zone after consecutive sessions of corrections, according to EBL Securities.

Turnover, a crucial indicator of the market, stood at Tk 3.18 billion, down 6.01 per cent from the previous trading day.

The majority of the stocks saw a price decrease, as out of the 397 issues traded, 123 closed higher, 184 ended lower, and 90 remained unchanged on the DSE trading floor.

Orion Infusion was the most-traded stock, with shares worth Tk 328.40 million changing hands, followed by Sonargaon Textiles, BRAC Bank, Square Pharmaceuticals and Taufika Foods and Lovello Ice-cream.

On the sectoral front, Textile (14.4 per cent) issues exerted the highest turnover, followed by pharma (13.7 per cent) and food (12.5 per cent) sectors. Sectors displayed mixed returns, out of which life insurance (0.9 per cent), jute (0.9 per cent) and Paper (0.7 per cent) exhibited the most positive returns on the bourse today, while tannery (-1.1 per cent), travel (-0.9 per cent) and textile (-0.7 per cent) exerted the most corrections.

The Chittagong Stock Exchange (CSE) ended up with its All Share Price Index (CASPI) increasing 4.38 points to settle at 14506 and the Selective Categories Index (CSCX) increasing 1.10 points to settle at 8793.

The port city bourse traded 1.48 million shares and mutual fund units with a turnover volume of Tk 36.14 million.

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