Stock prices rebound after losing streak

Prices of most stocks rebounded on Tuesday after their losing streak as falling prices of large-cap shares weighed on the Dhaka Stock Exchange (DSE), while investors remained cautious amid concerns over the impact of the recent fuel price hike on inflation and corporate earnings.

The DSEX, the broad index of the DSE, fell 10.2 points to settle at 5,540 points, compared with 5,550 points in the previous trading session.

The market remained volatile throughout the session, with selling pressure gaining momentum after mid-session as investors adopted a cautious stance amid concerns over the market outlook and ongoing geopolitical tensions in the Gulf region. Market turnover, however, edged up 0.4 percent to Tk 7.9 billion from the previous session.

Textile stocks accounted for the highest share of turnover at 18.3 percent, followed by General Insurance at 14.6 percent and Pharmaceuticals at 13.9 percent.

Most sectors posted negative returns. Services declined 1.1 percent, Life Insurance 1.0 percent and Travel 0.9 percent. On the other hand, Mutual Funds gained 1.1 percent, Ceramic 0.5 percent and Engineering 0.3 percent.

Of the 395 issues traded, 101 advanced, 227 declined and 67 remained unchanged.

The Chittagong Stock Exchange (CSE) witnessed a mixed trend. Its Selective Categories’ Index (CSCX) gained 3.5 points, while the All Share Price Index (CASPI) declined 6.4 points.