Stocks close in green for second straight day
Recent indications regarding the resolution of the ongoing power and energy crisis, as well as the shortage of foreign currency, have also slightly influenced the market momentum positively, said the EBL Securities analysts
Stocks extended their moderate recoveries for the second consecutive session on Sunday as bargain hunters entered the scene.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), advanced 0.28% or 17.17 points to close at 6,232 on Sunday, while Thursday's 0.11% gain did not help the index recover what it lost earlier last week.
Following three straight weeks in red, bargain hunters found some investment opportunities in some sector-specific stocks trading at lucrative price levels, said EBL Securities in its daily market commentary.
Recent indications regarding the resolution of the ongoing power and energy crisis, as well as the shortage of foreign currency, have also slightly influenced the market momentum positively, said the EBL Securities analysts.
However, investor participation has yet to rebound across the bourse as the majority of scrips remain stuck at the floor price, limiting liquidation opportunities in the market.
Meanwhile, the Dhaka bourse observed a slight increase in participation while the total turnover rose by 4.9% to Tk339 crore from Tk324 crore on Thursday.
Pharmaceutical and chemicals, IT, and life insurance sectors contributed most to the daily turnover. The IT, tannery, and pharmaceutical sectors led the gaining table, while paper and printing, life insurance, and general insurance sectors saw the maximum corrections.
On Sunday, 49 scrips advanced in the DSE while 40 declined.
