Stocks rebound after week-long slide

 
Stocks rebounded on Thursday after remaining in the red throughout the week, as selective buying emerged following recent sharp corrections, although investor participation remained subdued amid weak market confidence and prevailing domestic uncertainties.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 15.6 points, or around 0.28 percent, to settle at 5,656, compared with 5,640 points in the previous session.

The market opened on a positive note and remained in positive territory throughout the session, though late-session selling pressure trimmed part of the early gains, according to BSS report. 

Market analysts said several policy-level support measures-including monetary easing following the recent policy rate cut, a favorable resolution to margin rules and the government's commitment to provide stimulus measures for struggling firms-have so far failed to generate strong buying interest as domestic headwinds continue to weigh on investor sentiment.

Turnover also fell 7.8 percent to Tk 4.7 billion from Tk 5.1 billion in the previous session, marking a five-month low and indicating weak investor participation.

Textile stocks dominated trading, accounting for 29.2 percent of total turnover, followed by Bank with 10.9 percent and General Insurance with 10.3 percent.

Of the 395 issues traded, 178 advanced, 141 declined and 76 remained unchanged.

Meanwhile, the Chattogram Stock Exchange (CSE) also witnessed a mixed trend. Its Selective Categories' Index (CSCX) declined 1.3 points, while the All Share Price Index (CASPI) advanced 4.6 points.