Market closes up after 7 red sessions
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), closed 0.79% higher at 7,076 on Thursday putting a brake on the downward momentum that was persistent even in the morning
Stocks got some buyers on Thursday after seven consecutive sessions of aggressive selloffs.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), closed 0.79% higher at 7,076 on Thursday putting a brake on the downward momentum that was persistent even in the morning.
The index went below 6,985 in the first hour of trading but started to rebound as soon as the number of buy orders increased.
The battle among the buyers and sellers was settled after 1.00 pm when large-cap Beximco shares began to rise on earnings optimism.
Also, NRB Commercial Bank, which did not find any buyer in the previous session, had no seller over the second half of the Thursday session. Despite the volatility, the turnaround increased market confidence in the end.
In total, 153 DSE scrips advanced at the end, while 179 declined and 42 remained unchanged on Thursday.
However, the rebound in the last session helped the index to avert the extension of the weekly fall. DSEX was 2.31% down over the last week.
Large-cap companies’ index DS30 limited the weekly fall to 0.73% by gaining 1.63% on Thursday, while Shariah-compliant scrips’ index DSES led the weekly fall with a 3.14% weekly dip.