Stocks rebound on incentive hopes – The Daily Star

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Major indices of Bangladesh’s stock market yesterday bounced back from a two-day fall as investors were buoyed by hopes of market-friendly measures in the upcoming national budget for fiscal 2022-23.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), added 15 points, or 0.24 per cent, to end the trading session at 6,484.

Similarly, turnover of the country’s premier bourse rose to Tk 916 crore from Tk 739 crore a day earlier thanks to a 24 per cent increase in investor participation.

Dhaka stocks rebounded after a two-day break as bargain hunters showed some buying interest in lucrative sector-wise stocks, International Leasing Securities said in its daily market review.

Investors are anticipating some incentives in the national plan for the next fiscal year and so, more of them are participating in the market ahead of the budget proposal, it added.

Among the sectors, ceramics rose 4.6 per cent, mutual funds increased 2.7 per cent and textiles advanced 1.3 per cent.

Investor activity was mostly focused on general insurance (11.4 per cent), textiles (10.3 per cent) and engineering (9.7 per cent).

Meanwhile, DS-30, the blue-chip index, and DSES, the shariah based index, advanced 3 points and 2 points respectively.

At the DSE, 190 stocks rose, 149 fell and 40 remained unchanged.

Meghna Insurance topped the gainers list, rising 10 per cent, while Shinepukur Ceramics, CAPM BDBL Mutual Fund One, CAPM IBBL Islamic Mutual Fund, and Metro Spinning also placed in the top five.

Sonar Bangla Insurance shed the most, dropping 2 per cent, while Eastern Lubricants Blenders, CVO Petrochemical Refinery, Desh General Insurance, and Bangladesh Monospool Paper Manufacturing were among other companies in the loser tally.

Beximco Ltd became the most traded stock with shares worth Tk 56 crore changing hands followed by Shinepukur Ceramics, Fu-Wang Food, Provati Insurance, and IPDC Finance.

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