Stocks continue recovery trend

Stocks on Thursday resumed its recovery trend following the previous session’s flat momentum, as subsiding concerns over immediate domestic fuel supply shocks somewhat restored investor confidence, prompting market participants to capitalize on the market’s near-term upside potential.
DSEX, the broad index of the Dhaka Stock Exchange (DSE), further recovered 76.2 points to settle at 5,368 points as against 5,292 points in the previous trading session.

Although the benchmark index remained largely flat until mid-session since investors were active on both sides of the trading fence, the momentum gradually strengthened in the latter half of the session, leading to broad-based price appreciation across most scrips.

Meanwhile, market turnover also increased by 13.0 percent to Taka 5.9 billion from Taka 5.2 billion in the previous session. On the sectoral front, Bank (14.7pc) accounted for the highest share of turnover, followed by Pharma (14.1pc) and Food (11.5pc) sectors.

All the sectors displayed positive returns, out of which Cement (5.1pc), Travel (2.7pc) and IT (2.6pc) exhibited the most positive returns on the bourse Thursday.

Of the 397 issues traded, 307 advanced, 32 declined, and 58 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 64.5 points and 111.5 points, respectively.