Stocks snap three-day post-budget losing streak
On the day, the benchmark index DSEX of the Dhaka Stock Exchange (DSE) rose 13 points and settled at 5,083, while the blue-chip DS30 surged 9 points to reach 1,812.
Representational image. Photo: Mehedi Hasan/TBS
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Representational image. Photo: Mehedi Hasan/TBS
Stocks rebounded today (12 June), ending a three-day slide, as investors saw opportunities to buy stocks at lower prices, offsetting the selling pressure.
On the day, the benchmark index DSEX of the Dhaka Stock Exchange (DSE) rose 13 points and settled at 5,083, while the blue-chip DS30 surged 9 points to reach 1,812.
However, trading activities remained sluggish, with total turnover decreasing by 19% to Tk350 crore compared to the previous session.
In the past three sessions following the budget declaration, the DSEX lost 167 points, and the market capitalisation fell by around Tk16,000 crore.
EBL Securities said in the daily market review that the benchmark index of the Dhaka bourse managed to stay afloat as bargain hunters opted to take positions in beaten-down issues, although the overall market remained volatile due to dominant sell pressure in the latter half of the session amid subdued investor sentiment regarding market momentum.
The prolonged downbeat vibe across the market induced investors to remain watchful of the market’s trend and stay on the sidelines due to concerns surrounding the market outlook, it added.
Meanwhile, at the port city bourse, Chittagong Stock Exchange, the market remained settled in the red terrain. The selected indices CSCX and all-share price index CASPI declined by 10 and 16 points, respectively.
