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Stocks managed to close on a positive note on Tuesday, after a single-day break, as investors sought bargain-hunting opportunities in sector-specific lucrative stocks.
The recovery of the market index was mostly driven by particular stocks such as United Power, BBS Cables, Uttara Bank, Sea Pearl Beach Resorts and Unilever Consumer Care.
The market opened higher and the key index rose about 30 points until the first half of the session but the subsequent sell pressure wiped out the initial gains while late-hour buying helped the market index close in green.
The DSEX, the prime index of the Dhaka Stock Exchange (DSE), finally settled at 6,273, with more than 13 points or 0.21 per cent higher, after shedding 14 points in the previous day.
The market managed to end marginally higher, supported by the price appreciation of particular large-cap stocks, market operators said.
However, most of the investors preferred to take a ‘wait-and-see’ approach due to the prevailing volatility in the market and look for lucrative investment opportunities.
The DS30 Index, which consists of blue-chip stocks, saw a fractional gain of 0.72 point to 2,138 while the DSES index, which represents Shariah-based companies, advanced 3 points to 1,365.
Turnover, the crucial indicator of the market, stood at Tk 8.98 billion, which was 12 per cent higher than the previous day’s turnover of Tk 8.05 billion.
The majority of the traded stocks saw price appreciation, as out of 395 issues traded, 183 closed higher, 152 lower, and 60 remained unchanged on the DSE floor.
Best Holdings was the most traded stock, with shares worth Tk 502 million changing hands, followed by Fu-Wang Ceramic, Central Pharma, Orion Infusion, and Aftab Automobiles.
The Chittagong Stock Exchange also edged higher with its All Shares Price Index (CASPI)—gaining nearly 6 points to 17,937 and the Selective Categories Index (CSCX) rose 6 points to 10,747.
Of the issues traded, 108 advanced, 120 declined, and 28 issues remained unchanged on the CSE.