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Stocks rally after two days of decline

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Stocks rebounded yesterday as many investors continued to invest their money in stocks which have lost much of their value after a steady two-day drop.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 68 points, or 1%, to 6,868.

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Investors are now making purchases as they saw that many stocks had fetched lucrative prices after the recent drop, according to a stock broker.

“This is a good sign,” he said, adding that investor participation is still below an adequate level as many remain cautious due to a lack of confidence in the market.

As such, DSE revenue fell 6.3% to Tk 1,007 crore yesterday, from Tk 1,075 crore the day before.

In the EHR, shares of 223 companies rose, 99 fell and 54 remained unchanged.

The Dhaka Stock Exchange ended the day on a positive note as bargain hunters were seen in a frenzy of sector-specific stock buying with lucrative prices, International Leasing Securities said in its daily review of the. Marlet.

Interest in buying among dynamic investors has been remarkable in sector-specific stocks, as most of these stocks fell more than 5-10 percent in the price correction from the previous session.

Some risk averse investors stayed on the sidelines for the first hour of trading, but momentum was seen in the closing hours.

The ten most traded stocks accounted for about 45.5% of total trade, where Beximco alone accounted for 10.4%, he added. National Housing Finance tops the list of winners, up 9.92 percent, followed by Sena Kalyan Insurance, AFC Agro Biotech, Golden Son, and Taufika Foods and Lovello Ice-cream.

The most traded shares of Beximco Limited, valued at Tk 97 crore, followed by Orion Pharmaceuticals, LafargeHolcim Bangladesh, Beximco Pharmaceuticals and Square Pharmaceuticals.

LafargeHolcim Bangladesh and Square Pharmaceuticals jointly contributed 15 points to DSEX, according to data from amarstock.com, a provider of stock market data. The country’s other stock market, the Chittagong Stock Exchange (CSE), also rose yesterday.

The CASPI, the main index of the CSE, rose 229 points, or 1.15%, to 20,097.


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