Dhaka stocks rebounded on Wednesday after falling for two consecutive sessions, as a section of investors went for buying large-capitalised scrips, market operators said.
The key index of the Dhaka Stock Exchange, DSEX, increased by 84.81 points, or 1.44 per cent, to close at 5,952.77 points, after losing 64.31 points in the previous session.
The turnover on the DSE increased to Tk 1,243.98 crore on Wednesday compared with that of Tk 1,015.01 crore in the previous session. The turnover on Sunday at Tk 2,010.08 was the highest after September 20, 2022, at Tk 2,832.30 crore on the day.
Investors started showing increasing interests in the market for most of the sessions after August 5, following Sheikh Hasina鈥檚 resignation as prime minister and fleeing from the country on the day, ending her 15-year rule amid an unprecedented student-led mass uprising against her authoritarian regime.
Market operators said that the market investors were hopeful for the market towards a change for the better.
However, they pointed out that most of the stocks are still in a correction phase, which indicates investors鈥� confusion whether to participate in the market as most of the economic indicators of the country are still showing poor signs.
Market operators added that the market had been struggling for a while, but when investors realised that the Bangladesh Securities and Exchange Commission might take steps to improve things, many became more interested in investing, leading to the recent surge.
Economist M Masrur Reaz was on Tuesday appointed as chairman to the Bangladesh Securities and Exchange Commission for a four-year term after Shibli Rubayat-Ul Islam resigned as BSEC chairman on August 11, following the resignation of Sheikh Hasina.
Of the 397 issues traded on Wednesday, 116 advanced, 239 declined and 42 remained unchanged.
The DSE Shariah index increased by 14.98 points, or 1.19 per cent, to close at 1,270.34 points on the day.
The DS30 index gained 63.00 points, or 2.95 per cent, to finish at 2,197.04 points.
On the sectoral front, bank issues exerted the highest turnover, followed by the telecommunication and pharmaceutical shares.
EBL Securities in its daily commentary said, 鈥楳arket volatility persisted throughout the session as sellers continued their dominance due to the weakening strength of the market鈥檚 momentum.鈥�
鈥楬owever, the indices propelled up in the late session owing to buy dominance in selective large-cap issues, although overall market sentiment remained subdued,鈥� it added.
Grameenphone topped the turnover chart on the day with its shares worth Tk 159.16 crore changing hands.
BRAC Bank, United Commercial Bank, Beximco Pharmaceuticals, Jamuna Bank, IFIC Bank, British American Tobacco Bangladesh, Robi Axiata, Square Pharmaceuticals and City Bank were the other turnover leaders.
