Stocks witness sustained upbeat momentum

Business Desk :

Stocks on Thursday witnessed a sustained upbeat momentum, extending its recovery from the brief correction phase, with the benchmark index retracing back to the 5,600 threshold as broad-based buying activity continued to dominate the trading floor.

DSEX, the broad index of the Dhaka Stock Exchange (DSE), advanced by 45.4 points to settle at 5,600 points, as against 5,555 points in the previous trading session.

The market opened on a firm note, building on the prior day’s late-session buying momentum, which led to price appreciation across most scrips as the session progressed.

Although mid-session profit-taking briefly moderated early gains, renewed buying interest in the latter half of the session enabled the index to recoup earlier declines and settle higher by the close.

Apparently, market turnover also surged by 67.5 percent to Taka 9.5 billion from Taka 5.7 billion in the previous session.

On the sectoral front, Bank (22.0) percent issues exerted the highest turnover, followed by Pharma (18.7) percent and Telecom (9.1) percent sectors.

All the sectors displayed positive returns, out of which Ceramic (3.1) percent, IT (2.3) percent and Travel (2.3) percent exhibited the most positive returns on the bourse of Thursday.

Out of the 397 issues traded, 237 advanced, 89 declined and 71 remained unchanged. The port city bourse, CSE, also settled on a positive zone. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) added 69.9 points and 128.2 points, respectively.