Stocks rebound

Stocks rebounded on Wednesday, snapping a three-session losing streak as investors went for bargain hunting in recently battered stocks.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), gained 46.7 points to close at 5,433 points, up from 5,387 points in the previous session, according to BSS reprt.

Market indices remained largely range-bound until mid-session before selective buying gained momentum, helping the benchmark index move into positive territory.

Turnover on the DSE increased 9.3 percent to Tk 440 crore from Tk 400 crore in the previous session.
The Chittagong Stock Exchange (CSE) also closed higher, with its selected index CSCX gaining 12.2 points and the All Share Price Index CASPI rising 40.3 points.

Textiles accounted for the highest share of turnover at 18.8 percent, followed by banking at 16.7 percent and pharmaceuticals at 10.7 percent.

Among the sectors, general insurance posted the highest gain of 2.1 percent, while paper and information technology each advanced 1.7 percent. Jute declined 1.8 percent, while tannery edged down 0.1 percent.

Of the 395 issues traded, 262 advanced, 69 declined and 64 remained unchanged.