Stocks reverts to upward trajectory

Business Desk :

Stocks on Monday reverted to the upward trajectory as investors shrugged off Middle East tensions concerning the market’s momentum and opted to regain positions in equities at attractive entry points, capitalizing on the previous session’s sharp correction.
DSEX, the broad index of the Dhaka Stock Exchange (DSE), rebounded by 72.3 points or 1.3 percent to settle at 5,534 points as against 5,462 points in the previous trading session.
Market analysts observed that the market started off with predominant buying pressure, prompting the majority of scrips to open higher, which restored investor confidence to reclaim positions for a potential quick gain.
Sustained buying activity led the benchmark index to regain over 100 points by the mid-session, although some late-session profit-taking moderated initial gains; buyers dominated market momentum through the session’s close.
Meanwhile, turnover remained resilient at Taka 7.7 billion, indicating steady investor participation. On the sectoral front, Bank (26.5pc) issues exerted the highest turnover, followed by Pharma (16.8pc) and Textile (7.9pc) sectors.
Sectors mostly displayed positive returns, out of which Financial Institutions (4.5pc), Services (3.1pc) and Travel (3.0pc) exerted the most positive return on the bourse.
Out of the 397 issues traded, 338 advanced, 37 declined and 22 remained unchanged. The port city bourse, CSE also witnessed a positive session on Monday. The selected indices (CSCX) and all Share Price Index (CASPI) and All Share Price Index (CASPI) increased by 76.7 points and 138.8 points respectively.