Stocks rebound on bargain hunting amid improved investor confidence

Stocks on Tuesday got some respite after a prolonged downturn as bargain hunting returned across the board amid improved investor confidence following the Prime Minister's assurance of an immediate resolution to industrial gas supply constraints and regulatory engagement with leading brokers.

DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 93.5 points to settle at 5,538 points today against 5,472 points in the previous trading session.

The market opened on a positive note, with the upward momentum sustaining throughout the session. At one point, the DSEX gained more than 100 points as broad-based buying interest emerged and most scrips recovered following consecutive sessions of declines.

Market turnover rose to Taka 5.0 billion, representing a 3.8 per cent increase compared to the Taka 4.9 billion recorded in the previous trading session. On the sectoral front, Textile accounted for the highest share of turnover at 21.9 per cent, followed by General Insurance at 19.4 per cent and Bank at 12.2 per cent.

Most sectors posted positive returns, with Services gaining 4.1 per cent, General Insurance 3.8 per cent and Paper 3.7 per cent.

The selected indices (CSCX) and All Share Price Index (CASPI) gained 26.2 points and 50.5 points respectively to close at 10,055.5 and 16,573.4 points.�"BSS