Stocks rebound as bargain hunters return

Stocks rebounded on Tuesday as investors resumed buying activities, taking advantage of lower stock prices after two consecutive sessions of profit-taking, while renewed government assurances regarding the long-term development of the stock market further boosted investor confidence.
The benchmark DSEX index of the Dhaka Stock Exchange rose by 51.1 points to close at 5,605 points, up from 5,554 points in the previous session, according to BSS report.

Market analysts said that although trading opened under continued selling pressure, sentiment improved gradually throughout the session as bargain hunters accumulated fundamentally strong stocks, resulting in broad-based gains across most sectors.
Despite the recovery in prices, total turnover on the DSE declined by 5.4 percent to Taka 8.3 billion from Taka 8.8 billion recorded in the previous trading session.

Among sectors, pharmaceutical stocks accounted for the highest share of turnover at 16.1 percent, followed by banking stocks at 12.3 percent and engineering issues at 11.2 percent.

Meanwhile, trading at the Chittagong Stock Exchange also ended higher. The Selective Categories Index (CSCX) advanced by 4.6 points, while the All Share Price Index (CASPI) gained 36.0 points at the close of trading.�"BSS