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Stocks closed higher on Monday as investors adjusted their portfolios in response to ongoing earnings declarations.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), rose by 67.57 points, to settle at 5,333 on the day.
The benchmark index of the Dhaka bourse saw a modest recovery after three consecutive sessions of correction, primarily riding on price appreciation of particular large-cap scrips as investors reshuffled their portfolios in response to ongoing earnings declarations, according to EBL Securities.
The blue-chip index DS30, a group of 30 prominent companies, gained 23.77 points, closing at 1,977.45. Meanwhile, the DSES Index, representing Shariah-compliant companies, increased by 19.78 points, ending at 1,195.29.
Turnover, a key market indicator, stood at Tk 5.77 billion, reflecting a 3 per cent increase from the previous trading day.
The market showed buying dominance, especially in the latter half of the session since the profit booking selloffs have somewhat eased down, enticing opportunistic investors to capitalise on lucrative stocks with quick gain potential. However, most investors are still cautious of the market’s waning momentum amidst the backdrop of prevailing uncertainties, according to EBL Securities.
Of the 395 issues traded, 198 stocks closed higher, 133 ended lower, and 64 remained unchanged.
Bangladesh Shipping Corporation was the most-traded stock, with shares worth Tk 299.82 million changing hands, followed by Islami Bank Bangladesh PLC, Orion Pharma Ltd, Unique Hotel & Resorts PLC, and Taufika Foods and Lovello Ice Cream PLC.
The Chittagong Stock Exchange (CSE) also ended in the green, with its All Share Price Index (CASPI) rising by 46 points to close at 14,842. The Selective Categories Index (CSCX) gained 27.66 points, to settle at 9,030.
The CSE traded 10.13 million shares and mutual fund units, with a turnover of Tk 397.96 million.