Dhaka stocks advanced on Sunday after a fall in the previous three sessions, as buyers dominated most of the session with hope for the market to rebound after the recent corrections, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, increased by 35.67 points, or 0.63 per cent, to close at 5,696.72 points on the day after losing 29.73 points in the previous trading session.
Along with the indices, the turnover too witnessed a sharp spike.
As the investors increased their activity in the market, the total turnover of the Dhaka bourse on Sunday was Tk聽985.88 crore, which was Tk聽911.37 crore in the previous session on May 9.
Before Sunday, the market was on a downward trend for three straight sessions.
Market operators said that the Bangladesh Bank鈥檚 decision on increasing repo rates, which may lead to interest rate hikes in the money market, would not be helpful for the capital market, as investors might shift funds to banks.
They said that the devaluation of the taka against the dollar might add to the depressed state of the market.
According to EBL Securities daily market research, buyers regained their dominance across the trading floor on Sunday, as the recent media reports regarding fresh capital injection by state-run Investment Corporation of Bangladesh contributed to the rebound in investor sentiment.
Suborna Barua, chairman of the ICB, told 抖阴精品 that the ICB was likely to receive a fund from the government.
鈥榃e are currently working on the necessary documents. If we get the fund, a portion of it will be injected into the capital market,鈥� he added.
In the past 12 weeks, the market moved forward in only three weeks, including the past two weeks.
Of the 392 issues traded on the day, 93 advanced, 258 declined and 41 remained unchanged.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by textile and engineering stocks.
The DSE Shariah index increased by 7.89 points, or 0.63 per cent, to close at 1,250.47 points on Sunday.
The DS30 index gained 11.36 points, or 0.56 per cent, to finish at 2,026.59 points.
Asiatic Laboratories topped the turnover chart on the day with its shares worth Tk聽47.06 crore changing hands.
Best Holdings, Navana Pharmaceuticals, Golden Son, Far East Knitting & Dyeing Industries, eGeneration, Malek Spinning Mills, Oimex Electrode, Taufika Foods and Lovello Ice-cream and Kohinoor Chemicals Company (Bangladesh) were the other turnover leaders.