Dhaka stocks surge for three straight sessions

Business Desk :
After the weeklong selloff, Dhaka stocks continued their recovery for the third consecutive session on Monday.

DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), which fell to 6,216 on Wednesday sharply bounced back on Thursday as the regulator’s meeting with the stakeholders activated bargain hunting into oversold stocks.

On Monday, the DSEX surged by 26 points to reach 6,291.

Monday’s trading started with buying pressure amid the political uncertainties ahead of the upcoming national election, and concerns regarding the macroeconomic situation, said a stock broker.

The securities regulator asked the market intermediaries for investing more in the secondary market of the stock exchanges in a meeting on Wednesday.

After that, DSEX gained 71 points in three consecutive sessions.

The Dhaka bourse observed an increase in participation as total turnover jumped by 44% to Tk495 crore.

Out of the total traded scrips, 142 advanced, 27 declined and 156 remained unchanged.