Stocks extended their upward momentum from Tuesday and posted meagre gains yesterday as bargain hunters continued to take positions in sector-specific stocks.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), inched up 0.07% on Wednesday and settled at 6,305.
Also, the daily turnover at the DSE increased by 27% to Tk662.5 crore. Of all the issues traded, 84 advanced, 73 declined, and 162 stayed the same as they were in the previous trading session.
In its daily market commentary, EBL Securities said investors were active on both sides of the trading fence, causing the core index to observe a flat movement throughout the session.
"Risk averse investors continued their cautious selling approach, while some opportunistic investors chased selective scrips which they perceived as a chance to harness a short-term gain," the review added.
Investors' optimism on the rallied insurance stocks continued to dominate the turnover board, as the sector contributed the highest 34.6% to the day's turnover. Food added 15.2% and life insurance stocks 6.8%.
The sectors displayed mixed returns on Wednesday, with general insurance, travel, and mutual funds posting the highest price appreciations of 2.7%, 2.4%, and 1.1% respectively.
On the other hand, paper, life insurance, and services sectors faced the highest corrections of 1.3%, 0.5%, and 0.3% in that order.
Agrani Insurance was the day's top gainer with a price appreciation of 10%. Fu Wang Food, on the other hand, was the top loser with a 7.5% price fall.
Source: The Business Standard
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