Stocks rebound on both bourses

Business Report :

After witnessing a downward trend in the last two sessions, stocks on Monday rebounded in the Dhaka and Chittagong stock exchanges as investors remained active on sector-wise issues.

DSEX, the broad index of the DSE, advanced by 33.7 points to settle at 5,199 points as against 5,165 points in the previous trading session.

Market analysts observed that the indices managed to remain afloat throughout the session as opportunistic investors seized positions in sector-specific stocks in anticipation of quick gains following recent market corrections.

Moreover, the finance adviser’s attention to the market’s wavering sentiment instilled a cautious sense of optimism among investors, as they anticipated efforts to address the prevailing concerns pervading the trading floor, they opined, reports BSS.

However, trading activities remained stagnant in the absence of any positive catalysts for the market, with total turnover in DSE slightly increasing by 16.4 per cent to Taka 3.6 billion as against Taka 3.1 billion in the previous session.

On the sectoral front, Bank (18.6 per cent) issues exerted the highest turnover, followed by Pharma (12.8 per cent) and Food (8.6 per cent) sectors.