The Dhaka Stock Exchange saw a positive trend in its indices for the third consecutive session, with the DSEX rising by 53 points to settle at 5,355. This surge was driven by large-cap stocks, as cautious investors sought out undervalued and attractive stocks.
Leading the way in contributing to the rise were companies like Walton Hi-Tech Industries, Grameenphone, United Power Generation & Distribution Company, Renata, and Square Pharma. The blue-chip index, DS30, also saw a gain of 19 points to reach 1,923, while the Shariah index, DSES, rose by 18 points to 1,184.
Market turnover for the day increased by 16.65% to Tk705.83 crore, with 246 scrips advancing, 99 declining, and 56 remaining unchanged. EBL Securities noted that investors continued to show interest in sector-specific issues, leading to a positive end to the week.
The market recovery was attributed to continuous price appreciation in most stocks following a period of bearish sentiment. Additionally, investors looking to avail tax benefits from secondary market investments contributed to the increased market participation.
In terms of sector performance, pharmaceuticals had the highest turnover, followed by food and general insurance. Engineering sector stocks saw the most positive returns, with the services and ceramics sectors also performing well. The only sector to experience a slight decline was travel.
Overall, the market outlook remains positive, with the Chittagong Stock Exchange also ending on a high note. The Selected Indices (CSCX) and All Share Price Index (CASPI) saw gains of 101.2 and 163.7 points, respectively.
DailyBubble’s perspective on the market is optimistic, as investors continue to show interest in lucrative sector-specific issues and take advantage of tax benefits. The positive trend in both DSE and CSE indices indicates a favorable outlook for the stock market in Bangladesh.