Stocks extends upward trajectory

Stocks on Tuesday extended its upward trajectory, extending the momentum of last session, as renewed investor interest in beaten-down stocks pushed indices higher, while sentiment was buoyed by ceasefire talks surrounding the Middle East conflict.

DSEX, the broad index of the Dhaka Stock Exchange (DSE), advanced 34.3 points to settle at 5,157 points as against 5,123 points in the previous trading session, reports BSS.

Investors began the session cautiously, engaging in selective buying, however as buyers started to emerge on the trading floor driven by supportive domestic cues, confidence improved, prompting a more decisive buying activity pushing the indices to close higher.

Meanwhile, market turnover increased by 26.8 per cent to Taka 6.0 billion from Taka 4.7 billion in the previous session.

On the sectorial front, Pharma (16.8) per cent accounted for the highest share of turnover, followed by Engineering (13.9) per cent and General Insurance (10.8) per cent sectors.

Almost all the sectors displayed positive returns, out of which Ceramic (2.7) per cent, Paper (2.1) per cent and Textile (1.8) per cent exhibited the most positive returns whereas, only Food (-0.2) per cent displayed the most corrections on the bourse on Tuesday.

Of the 397 issues traded, 274 advanced, 64 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) declined by 5.5 points and 8.4 points, respectively.