Dhaka stocks advanced in the last trading session of the week on Thursday after falling for two consecutive sessions, as a section of opportunistic investors started seeking low-priced scrips after the recent market fall, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, increased by 23.43 points, or 0.44 per cent, to close at 5,251.96 points on the day after losing 50.35 points in the previous trading session.
The key index of the Dhaka bourse hit its lowest in the previous session after April 2021, and stood at 5,228.53 points.
The key index on Sunday had hit below the 5,300-point mark for the first time after 2021.
With the increased activity of investors on Thursday鈥檚 session, the total turnover of the Dhaka Stock Exchange was Tk 374.48 crore on the day.
The total turnover of the Dhaka bourse on the previous session was Tk聽306.67 crore, which was the lowest after January 3 at Tk 292.14 crore.
Market operators noted that increasing economic concerns, including the ongoing reduction in foreign exchange reserves in the country had left a negative impression on investors.
They said that margin sales, or forced sale pressures at the brokerage houses were a key reason for the market鈥檚 recent continued downfall, also the news of National Board of Revenue鈥檚 possible move on imposing capital gain tax on individual investors further contributed to the negative vibe.
In the past 14 weeks, the market moved forward in only three weeks.
Of the 389 issues traded on the day, 213 advanced, 126 declined and 50 remained unchanged.
The DSE Shariah index increased by 4.73 points, or 0.41 per cent, to close at 1,143.69 points on Thursday.
The DS30 index gained 4.90 points, or 0.26 per cent, to finish at 1,874.84 points.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by life insurance and textile sectors.
EBL Securities in its daily commentary said, 鈥楥autious investors remained observant of the market鈥檚 trend amid uncertainties leading up to the national budget declaration.鈥�
鈥楢 portion of investors opted to take positions in the potentially lucrative scrips with positive expectation of a short-term gain,鈥� it added
Rupali Life Insurance topped the turnover chart on the day with its shares worth Tk 12.56 crore changing hands.
Orion Pharma, Orion Infusion, Asiatic Laboratories, Alif Industries, Beach Hatchery, Reliance One the first scheme of Reliance Insurance Mutual Fund, eGeneration, Sonali Paper & Board Mills, and Golden Son were the other turnover leaders.
