Dhaka stocks regain 100 points in a day after massive slide

The Dhaka Stock Exchange (DSE) has rallied to regain 100 points in a day as indices rose sharply in a recovery following a sector-wide decline on Wednesday caused by the India-Pakistan conflict in the region.

The DSE price index knocked up 99.85 points to post 4,902 at the close on Thursday. Although the trade volume dipped, share prices rose for most companies.

On Wednesday, the premier bourse of the country lost 149 points, following a broad-based drop in share prices across all sectors as “rumours” over the conflict between India and Pakistan triggered panic sales.

Trading on Thursday morning began on a positive note and continued all through the day.

According to DSE data, shares worth Tk 3.66 billion changed hands, down from the previous day’s Tk 5.16 billion.

The banking sector accounted for 24 percent of the trade with Tk 818 million in turnovers. Food and allied traded shares worth Tk 450 million for second place and mutual funds posted Tk 405 in turnovers for third.

Of the listed companies, shares of 377 rose in prices, 10 dropped while seven traded in previous prices.

NRBC Bank, KDS Accessories, and DBH First Mutual Fund emerged at the top of the gainers at the close while Meghna Condensed Milk, SK Trims and Industries, and Northern Jute Manufacturing languished at the losers end.