Stocks rebound on both bourses

Stocks on Wednesday edged back into positive territory, driven by increased investor participation as opportunistic investors accumulated stocks with favorable earnings and dividend declarations. 

DSEX, the broad index of the Dhaka Stock Exchange (DSE), edged up by 8.3 points to settle at 5,092 points as against 5,084 points in the previous trading session. 

The market opened with notable optimism and remained firm in the early hours. However, the momentum gradually faded as persistent selling pressure from risk-averse investors eroded much of the early gains, leaving the index to close only marginally higher at the end of the session. 

Meanwhile, market turnover increased by 11.6% to BDT 5.0 billion from BDT 4.5 billion in the previous session. 

On the sectoral front, Pharma (14.9%) issues exerted the highest turnover, followed by Engineering (12.5%) and Bank (11.6%) sectors. Sectors mostly displayed mixed returns, out of which Jute (4.7%), Travel (2.7%) and IT (2.0%) exerted the most positive returns, while Financial Institutions (-2.6%), Paper (-1.9%) and General Insurance (-1.5%) exhibited the most corrections on the bourse today. 

Out of the 397 issues traded, 174 advanced, 152 declined and 71 remained unchanged.

The port city bourse, CSE, also settled on a positive zone. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) increased by 22.1 points and 23.1 points, respectively.