Stocks rebound after four-session losing streak

The country’s capital market staged a much-needed recovery on Wednesday, snapping a four-session losing streak as bargain hunting in recently battered stocks helped restore some investor confidence.

The benchmark DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 57.3 points to settle at 5,342 points, up from 5,284 points in the previous trading session.

The market opened on a positive note amid modest buying interest, although intermittent selling pressure trimmed some of its early gains. However, buying momentum gradually strengthened in the latter half of the session, pushing the index upward.

A late-session surge in buying further reinforced the positive trend, enabling the market to close firmly in the green.

Meanwhile, market turnover declined by 7.7 percent to Tk 520cr from Tk 560cr in the previous session.

On the sectoral front, textile stocks accounted for the highest share of turnover at 30.5 percent, followed by general insurance at 11.9 percent and pharmaceuticals at 10.2 percent.

All sectors posted positive returns. Paper stocks led the sectoral gains with a 2.7 percent rise, followed by ceramics at 2.5 percent and textiles at 2.0 percent.