Dhaka stocks post second straight gain after early dip

The Dhaka Stock Exchange (DSE) has gained 19 points, marking a second straight day of rise after a steep fall earlier in the day.

Over the last two trading days, the benchmark index, DSEX, has added 119 points to recover from a 149-point dip on Wednesday.

Trading on Monday began on a positive note. But within just 45 minutes, the momentum shifted as the key index slipped 18 points below what the previous day had accumulated at the close.

Investor interest surged later in the session, lifting the index to close at 4,921 points by the end of the day.

Banking, mutual funds, insurance and energy sector stocks drove the midday rebound of the country’s premier bourse.

Turnover has remained steady, with Monday’s transactions amounting to Tk 3.64 billion, slightly lower than Tk 3.66 billion from the previous day.

An analysis of the DSE’s trade data shows that the banking sector led the day, accounting for 21 percent of the total turnover, or Tk 782 million worth of shares exchanged.

Mutual funds traded shares worth Tk 485 million to follow, representing 13.63 percent of trade volume, while energy and power stocks came next, racking up Tk 390 million, or 11 percent.

The food and allied sector saw transactions worth Tk 344 million, making up 9.67 percent of the total turnover.

Of the 395 companies traded, prices of 189 rose, 160 declined, while 46 traded at previous prices.

Northern Islami Insurance, Khan Brothers PP Woven Bag Industries and South Bangla Agriculture Bank pulled ahead as the top gainers, while Bay Leasing, Baraka Power Limited, and Premier Leasing and Finance Limited languished as top losers.