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Stocks Bounce Back as Bank Sector Leads Market Gains
Stocks rebounded today, reversing recent declines as election-driven optimism eased, with strong buying in the banking sector lifting investor sentiment. The central bank’s latest relaxation of loan rescheduling rules was seen as a positive move amid concerns over rising non-performing loans.
The Dhaka Stock Exchange broad index, DSEX, gained 85.2 points to close at 5,553, up from 5,468 in the previous session.
Analysts noted that the market opened on a firm note, rising nearly 80 points within the first half-hour. Buying in major large-cap stocks fueled broad-based gains as confidence returned to the market.
Turnover increased by 26.5% to Taka 7.2 billion, compared with Taka 5.7 billion previously.
On the sectoral front, banking stocks dominated with 21.4% of turnover, followed by food (19.0%) and pharmaceuticals (10.4%). All sectors posted positive returns, with paper (3.2%), mutual funds (2.5%), and IT (2.3%) leading the gains.
Of 397 issues traded, 346 advanced, 18 declined, and 33 remained unchanged.
The Chittagong Stock Exchange also closed higher, with the Selective Categories Index (CSCX) up 94.1 points and the All Share Price Index (CASPI) rising 147.7 points.