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Stocks ended higher on Wednesday, after the Eid holidays, as bargain hunters opted to take positions in beaten-down issues in anticipation of short-term gain potential.
The prime index of the Dhaka Stock Exchange (DSE) rose 43.57 points to settle at 5,161 on the first trading day after Eid al-Adha.
91 points were added to the index in the last three trading days.
The blue-chip index DS30, a group of 30 prominent companies, rose more than 22.25 points to 1844.13 while the DSES Index, which represents Shariah-based companies, rose 13.25 points to settle at 1,121.31 till the end.
Turnover, a crucial indicator of the market, stood at Tk 2.46 billion at the end of trading, 41.76 per cent lower than earlier trading days.
This trading is the lowest in 16 months. The last time there was a lower volume than this was on 26 February last year, when the trading volume was 2.31 billion.
Market analysts said after a sharp correction in recent weeks, many good stocks fell to a lucrative price level, which encouraged a section of investors to put in fresh steak.
Moreover, prevailing rumours on the probable withdrawal of the proposed imposition of capital gain tax instil some confidence among jittery investors.
Walton, Unilever Consumer Care, Marico, Beacon Pharma, Square Pharma, and BAT Bangladesh were major index pullers in early trading, as they jointly accounted for more than 15 points of the key index's rise.
The participation of investors, however, remained thin on the trading floor as most of the investors are yet to return to Dhaka after celebrating Eid festival in their village homes.
The majority of the stocks saw a price surge. Out of the 392 issues traded, 232 closed higher, 96 ended lower, and 64 remained unchanged on the DSE trading floor.
Crystal Insurance Company Limited was the most traded stock, with shares worth Tk 116.13 million changing hands. It was followed by Pragati Life Insurance Ltd., Fortune Shoes Limited, Asiatic Laboratories Limited, Taufika Foods, and Lovello Ice-cream PLC.
The Chittagong Stock Exchange (CSE) ended higher, with its All Share Price Index (CASPI) gaining 61.23 points to settle at 14608 and the Selective Categories Index (CSCX) losing 38.26 points to settle at 8786.
The port city bourse traded .79 million shares and mutual fund units with a turnover volume of Tk 68.78 million.
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