DSEX recovers 22 points amid large-cap momentum

The indices of the Dhaka Stock Exchange (DSE) experienced a recovery session on Tuesday as savvy investors took positions in sector-specific stocks amid market volatility. 

Investors focused on large-cap stocks, which are considered more lucrative for investment than low-cap and junk stocks. 

The DSEX, the prime index of the DSE, rose by 22 points to settle at 5,242. Meanwhile, the Blue-chip index DS30 increased by 10 points to reach 1,878, and the Shariah-compliant stocks’ index DSES went up by 7 points, closing at 1,150.

The turnover decreased by 9.28% to Tk524.57 crore from Tk480 crore compared to the previous sessions. 

Among the traded scrips, 171 advanced, 162 declined, and 61 remained unchanged during the trading session. 

Five mutual funds placed in the top gainer list including Sikder Insurance, Global Heavy Chemicals, Investment Corporation of Bangladesh, Atlas Bangladesh, and Coppertech Industries. 

First Finance was on the top loser list as its share price declined by 5.41% to Tk3.40 each, followed by Linde Bangladesh, Sonali Paper & Board Mills, Alif Industries, and Bangladesh Monospool Paper Manufacturing.

Unilever Consumer Care, Rupali Life Insurance, and Beach Hatchery were the most traded stocks in the Dhaka bourse.

EBL Securities wrote in its daily market commentary that the benchmark index of the Dhaka bourse closed in green territory as opportunistic investors opted to take positions in sector-specific issues. 

However, the overall market remained volatile since investors remained active on both sides of the trading fence amid subdued investor sentiment regarding market momentum, it said. 

According to the commentary, the market extended its volatility throughout the session as cautious investors continued to remain observant owing to the persistent pessimism across the trading floor, while investors’ buying interest in particular large cap scrips helped the core index to close in green. 

Pharma’s 22.7% issues exerted the highest turnover on the sectoral front, followed by Food’s 20.8% and Life Insurance’s 9.0% sectors. 

Most sectors displayed mixed returns, of which Life Insurance 4.0%, Financial Institutions 3.9% and Mutual Fund 2.3% exhibited the most positive returns on the bourse today. In comparison, Jute 2.6%, Tannery 1.9% and Paper 1.6% exerted the most corrections. 

The port city bourse, CSE, also settled on green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 67.3 and 111.0 points, respectively.