Stocks extend rally for fourth straight session ahead of Eid
Stocks on Saturday extended gaining streak for a fourth consecutive trading session ahead of the Eid-ul-Azha holidays, as improving domestic economic signals and renewed political commitments toward capital market development strengthened investor confidence.
The broad-based DSEX index of the Dhaka Stock Exchange (DSE) advanced by 64.2 points to close at 5,328 points, up from 5,264 points in the previous session, reflecting strong buying appetite across major sectors, particularly banking and large-cap issues, reports BSS.
Market analysts said the rally was supported by expectations of supportive reforms in the capital market, improving macroeconomic stability, and easing global geopolitical concerns surrounding the Strait of Hormuz, which helped reduce uncertainty in international energy markets.
The market opened on a bullish note from the opening bell and maintained its upward momentum throughout the session, driven by increased participation from both institutional and retail investors.
Turnover on the premier bourse also rose by 4.0 percent to Tk 900 crore , compared to Tk 870 crore in the previous trading session, indicating stronger market activity ahead of the extended Eid holidays.
Sector-wise, Engineering accounted for the highest share of total turnover at 15.7 percent, followed by Pharmaceuticals at 15.4 percent and General Insurance at 12.9 percent.
Most sectors closed in positive territory. The Cement sector posted the highest gain of 3.3 percent, followed by Services with 2.8 percent and Banking with 2.1 percent. However, the Information Technology sector was the lone laggard, declining by 1.9 percent during the session.
Out of the 396 issues traded on the DSE, 215 advanced, 113 declined, and 68 remained unchanged, indicating broad-based market optimism.
Meanwhile, the Chittagong Stock Exchange also ended higher. Its Selective Categories Index (CSCX) gained 81.3 points, while the All Share Price Index (CASPI) rose by 138.7 points at the close of trading.
