DSEX recovers 41 points riding on blue-chip firms 

The Dhaka Stock Exchange (DSE) continued its recovery for a second consecutive session on Thursday, as investors showed their buying appetite for specific blue-chip companies.

The prime index, DSEX, rose by 41 points to close at 5,735, while the blue-chip index, DS30, increased by 29 points to 2,106. The Shariah-compliant index, DSES, also edged up 12 points, finishing at 1,258.

The day's turnover saw a 7.4% increase, reaching Tk595 crore, up from Tk554 crore in the previous trading session. 

The session opened positively, with the indices maintaining an upward trend throughout the day. Particular large-cap scrips contributed to extending the blue-chip index in Thursday's session.  

Key stocks that contributed to the increase included Grameenphone, Robi, British American Tobacco Bangladesh Company, Walton Hi-Tech Industries PLC, Islami Bank, Renata, Unilever Consumer Care, Beacon Pharmaceuticals, Bangladesh Submarine Cables, and United Power.

Of the 397 issues traded at DSE, 150 advanced, 191 declined, and 56 remained unchanged.

Market insiders stated that after former prime minister Sheikh Hasina left, investors in the capital market initially regained some confidence. However, this confidence was soon undermined by financial scandals involving the previous government, along with ongoing economic and political uncertainty.

Despite this, the current bearish market trend is presenting new investment opportunities. With the upcoming announcement of corporate earnings for the fiscal year ending in June, market activity is expected to pick up. 

Positive earnings reports could provide investors with opportunities to benefit, potentially revitalising the market.

In its daily market commentary, EBL Securities said the capital market extended its recovery mode for the second consecutive session owing to investors' buying interest in particular large-cap scrips, although market participation has yet to rebound across the trading floor due to concerns over the market's momentum amid forthcoming corporate declarations.

According to the commentary, the market sustained the upbeat vibe throughout the session since buyers remained on the dominant side as they sought lucrative opportunities in selective scrips.

On the sectoral front, pharma saw the highest turnover, contributing 19.8% of the day's trades, followed by banking at 14.8% and telecommunications at 8.4%. 

The Chittagong Stock Exchange (CSE) also ended on a positive note, with the CSCX and CASPI indices gaining 46.3 and 74.8 points, respectively. 

Turnover at the CSE stood at Tk17 crore, with 94 issues advancing, 107 declining, and 26 remaining unchanged.

The DSE SME index also showed a green trend, settling at 1,215 points. The turnover for this board reached Tk6.92 crore at the end of the session. Of the 19 issues traded, 13 advanced, 4 declined, and 2 remained unchanged.