Stocks extend recovery for third straight session

 
Stocks on Thursday extended their modest recovery for the third consecutive session as investors continued to buy recently beaten-down shares at attractive price levels, despite concerns over weaker corporate earnings and renewed geopolitical uncertainties.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 22.7 points to close at 5,452 points, up from 5,429 points in the previous session.

The market opened higher but witnessed a mild early-session pullback before late-session buying interest gathered momentum, helping the benchmark index remain in positive territory amid broad-based price appreciation, according to BSS report. 

Market turnover increased 20.1 per cent to Tk 500 crore from Tk 420 crore in the previous session.

Sector-wise, textiles accounted for the highest share of turnover at 24.7 per cent, followed by engineering at 13.6 per cent and general insurance at 12.6 per cent.

Most sectors posted positive returns. Information technology led the gains, rising 2.6 percent, followed by mutual funds with 2.3 per cent and financial institutions with 1.9 percent.

In contrast, jute declined 2.0 per cent, while telecommunications and banking fell 0.2 percent and 0.1 percent, respectively.

Of the 395 issues traded, 237 advanced, 87 declined and 71 remained unchanged.

The Chittagong Stock Exchange (CSE) also closed higher. Its Selective Categories' Index (CSCX) gained 36.1 points, while the All Share Price Index (CASPI) rose 61.0 points.