The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surged 132 points, or 2.64%, with more than 90% of the traded stocks advancing on the bourse, although turnover fell by 22%, data showed
Infographic: TBS
A day after a massive bloodbath at the Dhaka bourse, stocks rebounded yesterday as the sell-off largely subsided and buyers dominated the market.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surged 132 points, or 2.64%, with more than 90% of the traded stocks advancing on the bourse, although turnover fell by 22%, data showed.
On Sunday (8 March), the first trading session of the week, stocks suffered the highest single-day fall in six years as escalating geopolitical tensions in the Middle East triggered panic selling across the market.
The index plunged 231 points, or 4.42%, to close at 5,008, hitting a two-month low and marking the biggest one-day decline since the Covid-19 pandemic era.
Keep updated, follow The Business Standard’s Google news channel
Market insiders said Sunday’s sell-off was mostly panic driven assuming fuel crisis significantly may hit businesses due to Middle East conflict. After the conflict began, stocks witnessed bearish trends as cautious investors preferred to pull-off funds selling shares.
“Stocks declined significantly in recent trading sessions due to heavy sell-offs. As investors offloaded shares in previous sessions, funds generated from those sales were reinvested in the market, which helped stocks rebound,” said the managing director of a brokerage firm.
The port city bourse, Chittagong Stock Exchange (CSE), settled on a positive territory. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) advanced by 51.9 points and 82.6 points, respectively.
Bank stock save indices
The data showed that stocks began trading on the red pulling DSEX below 5,000 points marks. Six minutes later after starting trades, stock climbed to green as sell-offs reversed into buy domination, and continued till 10.22am with DSEX increasing 100 points.
After that a wave of sell-off again gripped the market, the bank stocks saved the indices as share prices of some large cap stocks including Islami Bank, BRAC Bank, City Bank and Pubali Bank increased.
According to LankaBangla financial portal, the four banks pulled DSEX by 54 points with a total increase of 132 points.
At the DSE, shares of 36 banks listed, but trading continued for 31 banks as shares trading of five Islamic banks suspended as the banks were merged into a one entity namely Sammilito Islami Bank.
On Sunday, the share price of 39 banks increased, only a bank share declined and shares price remained unchanged for a bank.
EBL Securities said, the capital bourse staged a partial rebound following the steep selloff in recent sessions, as bargain hunters turned back to accumulate equities at attractive price points; however, overall investor participation remained subdued amid lingering uncertainties surrounding the ongoing Middle East conflict.
It said, market indices maintained an upbeat trajectory throughout the session, supported by broad-based price appreciation across most scrips. However, cautious investors remained on the sidelines, closely monitoring market direction amid the absence of any visible progress toward a resolution or ceasefire in the ongoing conflict.
Apparently, market turnover decreased by 21.8% to Tk4.2 billion from Tk5.3 billion in the previous session. On the sectoral front, Bank stocks accounted for the highest share of turnover by 25.5%, followed by Pharma by 19.3% and Textile by 8.9%.
Gainers, losers
Islami Bank Bangladesh topped the gainer list hitting upper circuit, a highest single day limit capped by the regulator, by 9.89% to Tk41.10 each at the DSE.
Followed by City Bank by 8.24% to Tk30.2 each, AB Bank by 8.19% to Tk6.6 each, EBL NRB Mutual Fund by 8% to Tk2.7 each, and First Bangladesh Fixed Income Fund by 8% to Tk2.7 each.
While on the losing side, Green Delta Insurance topped the loser list as its shares price fell by 7.10% to Tk52.3 each, followed by Vanguard AML Rupali Bank Balanced Fund by 5.35% to Tk5.3 each, Dulamia Cotton Spinning Mills by 5.32% to Tk112 each, Renwick Jajneswar by 1.93% to Tk521.8 each, and Golden Jubilee Mutual Fund by 1.69% to Tk5.8 each.
Source: The Business Standard
Read More at: csslbd.net
stock exchange dhaka
dhaka stock exchange live
dsebd news
dhaka stock exchange today
dhaka stock exchange market price
dhaka stock exchange index
dhaka stock exchange latest share price
dhaka stock exchange share price
dhaka stock exchange indices
bd share newspaper
bd share news
dhaka stock exchange ltd
www.dhaka stock exchange
dhaka stock
ঢাকা স্টক এক্সচেঞ্জ
dhaka stock exchange by trade code
stock bangladesh news
dsc stock exchange
dhaka stock exchange agm
dhaka stock exchange today market price
