Retailers trade at Dhaka Stock Exchange office. BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to higher on Tuesday, after witnessing correction in the past two sessions in a row, as investors took position stance on lucrative stocks.
Brokers said the market rebounded after two days’ heavy downfall in prices as some enthusiastic investors went on buying spree on sector specific large-cap stocks.
After facing two days’ correction, the key index of the country’s prime bourse advanced 8.75 points while the Selective Category Index of port city bourse rose 7.78 points within first 30 minutes of trading at 10:30am.
After 45 minutes of trading, the DSEX, the prime index of the Dhaka Stock Exchange (DSE), stood at 5367 points, advancing 10.34 points while the Selective Category Index of port city bourse gained 15.38 points at 10:45am.
But, last hour’s buying spree helped DSEX to close 16.68 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 16.68 points or 0.31 percent to settle at 5,373 points.
The two other indices also edged higher.
The DS30 index, comprising blue chips advanced 2.73 points or 0.14 percent to finish at 1,992 points.
The DSE Shariah Index (DSES) gained 0.68 points or 0.05 percent to close at 1,249 points.
“However, this enthusiasm was not vivid among all the market participants as reflected in the downturn in daily turnover,” said an analyst at a leading brokerage firm.
Trading activities continued to decline and the total turnover came down to BDT 3.18 billion, which was 7.0 percent lower than the previous day’s BDT 3.42 billion.
It was also the lowest single-day transaction in nine months since September, last year, when the turnover was recorded BDT 3.15 billion.
Gainers took a modest lead over the losers, as prices of 167 securities advanced, 106 declined and 51 remained unchanged out of the 324 issues that were traded on the DSE floor.
Bangladesh Shipping Corporation dominated the DSE turnover chart with about 283,723 shares BDT 173 million changing hands, followed by Doreen Power, United Power, Pacific Denims and IFAD Autos.
Pacific Denims was the day’s highest gainer, posting 8.79 percent gain, while DBH First Mutual Fund was the worst loser, losing 5.56 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index – CSCX – advancing 14.50 points to settle at 10,064.
Gainers beat losers as 101 issues closed higher, 78 ended lower and 37 remained unchanged on the CSE.
The port city bourse traded 8.44 million shares and mutual fund units’ worth BDT 239 million in turnover.