Special Correspondent
The key index of the Dhaka Stock Exchange (DSE) rebounded into positive territory, driven by bargain hunters who anticipated short-term gains and selectively invested in promising stocks based on their expected earnings for the recently concluded quarter.
DSEX gained 32.6 points, or 0.6%, to settle at 5,167 points. The buyers dominance in the market tried to revamp the prolonged sluggishness.
Overall, the investors were a bit confident in this oversold market scenario. The turnover increased by 9.15%. Over the week, 13 sectors were gainers, in which ceramics, IT, and textiles were in the top position.
The market performed five sessions during this week. The market started positively on Sunday (+0.22%) and remained positive on Monday (+1.0%) and remained positive on Tuesday (+0.1%). Turned negative on Wednesday (-0.5%) and ended negative as well on Thursday (-0.2%).
The blue-chip index DS30 (+0.99%) gained 18.76 points and stood at 1,913.04 points. The Shariah-based index DSES (+0.97%) gained 11.21 points and stood at 1,161.85 points. The large-cap index CDSET (+0.39%) gained 4.11 points and closed at 1,052.10 points.
Over the week, 13 sectors were gainers, in which ceramics, IT, and textiles were in the top position. On the other side, five sectors were losers, where Eng, Financial Ins., & Food were the top losers.
This week, the most popular scrip was ADNTEL based on price & turnover growth, while the top gainer was SONARGAON and the top loser was AOL.
According to the Royal Capital, as BSEC is working relentlessly to support the liquidity of the market, the investors who are in wait-and-see mode should engage themselves more by participating continuously in the market to take it to a new level.
All considered, the market may go somewhat bullish with lower trading activities for the upcoming week, it said.
The recent decline in 10-year government bond yields also instills growing investor optimism. The decrease in yield, driven by factors such as declining credit demand and recent liquidity injections, is likely attributed to expectations of lower future policy rates, according to EBL Securities' weekly review.
The expectation of a decline in policy rate has likely boosted investor confidence and encouraged investment in stocks for higher returns, leading to positive momentum in the market, it said.
However, sellers started to exert their influence in the latter part of the week, leading to a market correction in the last two sessions.
