Stocks resume recovery momentum

Stocks on Monday resumed recovery momentum following the previous session’s correction, as investors perceived attractive entry points and accumulated beaten-down stocks in anticipation of favorable market momentum on easing geopolitical concerns after the Eid holidays.

DSEX, the broad index of the Dhaka Stock Exchange (DSE), recovered 34.8 points to settle at 5,354 points as against 5,319 points in the previous trading session.

From the outset of the session, market indices remained on a positive territory as broad based buying activity prevailed across the trading board.

However, market turnover decreased by 12.1 percent to BDT 4.6 billion from Taka 5.2 billion in the previous session.

On the sectoral front, Pharma (14.2pc) accounted for the highest share of turnover, followed by Bank (13.7pc) and Textile (11.7pc) sectors. All the sectors displayed positive returns, out of which Travel (3.3pc), IT (1.9pc) and Textile (1.5pc) exhibited the most positive returns on Monday.

Of the 397 issues traded, 252 advanced, 72 declined, and 72 remained unchanged.The port city bourse, CSE, also settled on a positive territory. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) advanced by 17.3 points and 50.4 points, respectively.