Stocks witness strong resurgence

Stocks on Wednesday witnessed a strong resurgence as the announcement of a two-week ceasefire deal between Iran and the USA sparked optimism across the trading floor, triggering renewed accumulation of the beaten-down scraps in anticipation of improved market momentum amid easing geopolitical concerns.

DSEX, the broad index of the Dhaka Stock Exchange (DSE), charged up by 161.1 Points to settle at 5,318 points as against 5,175 points in the previous trading session.

Market indices tracked a firm upward trajectory from the outset of the session with predominant buying interest, while investor participation strengthened steadily as the session progressed, driving broad-based price appreciation across most of the scraps.

Apparently, market turnover reached 7-week high, increasing by 66.1 per cent to Taka 9.9 billion from Taka 5.9 billion in the previous session.

On the sectorial front, Pharma (15.6) per cent accounted for the highest share of turnover, followed by Engineering (12.7) per centand Bank (12.6) per cent sectors. All the sectors displayed positive returns, out of which Jute (4.6) per cent, Bank (4.1) per cent and IT (3.4) per cent exhibited the most positive returns on the bourse on Wednesday.

Of the 397 issues traded, 365 advanced, 11 declined, and 20 remained unchanged. The port city bourse, CSE, also settled on a positive territory. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) added 192.5 points and 328.3 points, respectively.