DSEX jumps 1.66% on second day of recovery

Dhaka and Chattogram stocks jumped on Wednesday as investors came up with more buy orders after seeing some signs of recovery.

DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), rose 114 points or 1.66% to close at 6,982, following Tuesday's 1% gain and in the two sessions, the market recovered what it lost over the previous four sessions.

"As the core index lost around 500 points over the last one month, investors opted to take new positions in the stocks in the last two sessions which they found to be at lucrative price levels," EBL Securities wrote in its daily market commentary.

Investors also felt assured after learning that state-owned Sonali Bank lent the Investment Corporation of Bangladesh Tk500 crore to invest in the stock market.

Unlike the previous two sessions when turnover was increasing during selling pressures and was decreasing during buy pressures, investors' participation in trading increased on Wednesday.

Daily turnover at the DSE increased 15.48% to Tk1,164 crore.

Miscellaneous, pharmaceuticals and textile sectors dominated the turnover table with 21.1%, 15.85% and 15.07% contribution to the daily turnover in the DSE, respectively.

All sectors except jute and tannery got their total market capitalisation increased on Wednesday.

Of them, non-bank financial institutions topped with 4.3% gain, followed by cement and ceramic sectors which gained 2.8% and 2.7%, respectively.

Indices at the port city bourse Chittagong Stock Exchange also closed in the green.