Stocks rebound after three days; DSE gains 10 points

Stocks have rebounded as the Dhaka Stock Exchange (DSE) gained 10 points after losing 34 points over the past three days.

The upward trend since Wednesday morning lifted the index to 5,220 points in the first two hours and 15 minutes, as share prices rose for most of the companies, adding 35 points.

After corrections, the index stood at 5,195 points, up from 5,185 on Tuesday.

Despite the dip in the index, the uptrend persisted among listed companies. The number of shares traded on Wednesday was also high, with a turnover of Tk 5.27 billion. DSE, the largest capital market in the country, saw trading last pass Tk 5 billion on Mar 24, registering Tk 5.04 billion in turnovers.

On Sunday, shares worth Tk 4.15 billion changed hands. The amount was Tk 4.69 billion on Monday, and Tk 4.83 on Tuesday.

According to DSE data, as many as 144 of 395 companies saw their share prices rise, while 195 companies saw a dip and 54 others remained unchanged.

Share prices rose for companies from sectors including medicine and chemicals, insurance, and engineering. The three sectors contribute the most to trading on the DSE.

Medicine and chemicals pulled ahead of all sectors with shares worth Tk 852.1 million traded, 16.81 per cent of the total trade, changing hands, according to DSE.

It was followed by the life insurance sector in second with shares worth Tk 486 million changing hands, while in the engineering sector, shares worth 468.9 million were traded.

Confidence Cement, JMI Syringe Medical Devices and Doreen Power Generations and Systems topped the day in gains on DSE in terms of closing prices.