DSEX up in seventh consecutive session

Following a sharp fall, market support moves and investors' expectations for a market-friendly national budget helped stock indices turnaround and they ended their seventh consecutive positive session on Sunday.

DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), closed at 6,497 points on Sunday which was 0.71% higher than the previous close and 5.95% higher than the recent low on 22 May.

The market was "charged up by investors' increased participation in the large-cap stocks on the bourses today", said EBL Securities in its daily market commentary on Sunday.

"Binge buying across the bourse led by positive sentiment of investors attributed to the market rise while expectations of market-friendly policies in the fiscal budget kept investors busy in bargain hunting in potential sectors," EBL Securities added.

Daily turnover on the DSE increased 8.6% to Tk950 crore on Sunday, while pharmaceuticals, food, and textile contributed the most, making nearly half of the day's trading turnover.

Most of the sectors displayed positive returns, out of which general insurance, food, and ceramic generated the maximum gains while travel, paper, and tannery sectors suffered the maximum correction.

Out of the 385 issues traded, 202 advanced, 124 declined, and 59 remained unchanged on the DSE.

The Chittagong Stock Exchange also settled in green terrain, while turnover in the port city bourse dropped to Tk20.7 crore from Tk23 crore.