DSEX gains 111 points in four trading sessions

The benchmark Dhaka Stock Exchange (DSE) rose for the fourth consecutive session on Sunday, helped by growing investor confidence buoyed by the government’s announcement to adjust fuel prices in line with global markets.

Investors breathed a sigh of relief also due to the Bangladesh Bank’s efforts to stabilize dollar prices, a senior brokerage official said.

The DSEX has jumped 111 points in the past four trading sessions and hit 6,259 on Sunday.

Additionally, on the Chittagong Stock Exchange, the price index of all Caspi shares rose 20 points to 18,390.

According to Sunday’s daily market commentary by EBL Securities, stock indices on the Dhaka Stock Exchange extended their upward momentum from the previous week as investor participation in large-cap stocks pushed the index higher. base to stay afloat in green ground amid some mid-session volatility.

“Market participants showed mixed reactions as some cautious investors continued to offload their holdings due to a perceived gloomy economic outlook. But bargain hunters took the opportunity to buy selective stocks at lucrative prices, which which has helped optimistic investors outnumber pessimists across the stock market,” he added.

Meanwhile, Dhaka Stock Exchange witnessed a slight drop in participation as total turnover fell by 8.8% to Tk 1,060 crore on Sunday from Tk 1,160 crore in the previous session.

The textile sector contributed the most to the turnover of the day, followed by the miscellaneous sectors, engineering and pharmaceuticals.

Jute had the highest sector performance on Sunday, followed by the cement, services and IT sectors.

Monno Fabrics was the stock that rose the most, while Tamijuddin Textile faced the biggest price correction at the end of Sunday’s session.

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