Stocks see rising trend after eight sessions

FE Report | Published: May 22, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

The market turned around Wednesday after eight sessions' slump amid increased participation as continuous wane created some stimulus of undervaluation, which lured some of the witty participants to take position.
The market was quite bullish from early in the morning. The upbeat continued throughout the session, helping the prime index of the Dhaka Stock Exchange (DSEX) break the 8-session losing streak, surging by 47.13 points or 1.08 per cent to close at 4,410.63 points.
The other two indices also closed higher. The DS30, comprising blue chips gained 14.79 points or 0.93 per cent to close at 1,604.61 points. The DSE Shariah Index (DSES) advanced 10.76 points or 1.10 per cent to close at 982.64 points.
DSE turnover improved to Tk 2.71 billion, registering an increase of 38.26 per cent over previous session's 7-month low turnover of Tk 1.96 billion.
"The market started to show the sign of recovery from the prolonged bearish spell. The investors' went for buying mood as they found the price level of most of the stocks attractive," commented International Leasing Securities, in its regular market analysis.
The investors became particularly interested in the engineering and cement sectors due to the announcement regarding the tender of Padma Multipurpose Bridge which help them to secure to the top positions, said the International Leasing.
"Previous day's low volume indicated majority investors' disagreement on current low price level of scrips in the bourse, which created a stimulus for the witty participants to move in and take early positions," said IDLC Investments.
"Market made an impulse bounce-back as economic data exhibited some improvement," said LankaBangla Securities.
On the economic front, the import of capital machinery has increased by 19.69 per cent in the first nine months of FY '14. Industrial raw material import rose by 10.69 per cent during the July-March period of FY '14.