Stocks close higher as investors seize opportunities following recent corrections
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Stocks closed higher on Tuesday as investors capitalized on recent corrections, increasing their interest in select stocks.
The prime index of the Dhaka Stock Exchange (DSE) increased by 8.36 points to settle at 5,199.30.
The blue-chip index DS30, comprising 30 leading companies, increased by 4.39 points to 1,894.67, while the DSES Index, representing Shariah-compliant companies, increased by 1.79 points to 1,163.92 by the close.
The market started on a positive note, pushing the index to an intraday high of 5,217 points as buyers took fresh positions. However, selling pressure later dampened the initial optimism, pulling the index down to an intraday low of 5,195 points. Eventually, renewed buying interest helped the index extend its gains for a second consecutive session, according to EBL Securities.
Turnover, a crucial indicator of the market, stood at Tk 4.13 billion, up 22 per cent from the previous trading day.
The majority of the stocks saw a price increase, as out of the 397 issues traded, 182 closed higher, 138 ended lower, and 77 remained unchanged on the DSE trading floor.
Orion Infusion was the most-traded stock with shares worth Tk 259.09 million changing hands, followed by Beach Hatchery, Taufika Foods and Lovello Ice-cream, Khan Brothers PP Woven Bag Industries, and Linde Bangladesh.
The Chittagong Stock Exchange (CSE) also ended higher with its All Share Price Index (CASPI) increasing by 35.11 points to settle at 14,502 and the Selective Categories Index (CSCX) increasing by 22.06 points to settle at 8,799.
The port city bourse traded 2.5 million shares and mutual fund units with a turnover volume of Tk 119.3 million.