Written by The Banking Post
Stocks rallied sharply on Wednesday morning, buoyed by renewed investor confidence after a two-week ceasefire agreement between the United States and Iran eased global tensions.
The breakthrough, which includes the temporary reopening of the Strait of Hormuz, reassured markets and triggered broad-based buying, with bargain hunters leading the charge after recent volatility.
Within the first hour of trading, the benchmark DSEX index surged 133 points, or 2.65 per cent, to 5,293.
The rally was mirrored across indices. The DS30 index, comprising blue-chip stocks, climbed 47 points to 2,018, while the Shariah-based DSES index advanced 26 points to 1,071.
Turnover jumped to Tk 4.0 billion, signalling a sharp rise in market participation compared to previous sessions.
Market breadth was overwhelmingly positive, with 377 stocks advancing against just five decliners, while six remained unchanged.
Khan Brothers led the turnover chart with shares worth Tk 202 million traded, followed by KDS Accessories, BRAC Bank and Acme Laboratories.
The upbeat sentiment extended to the Chittagong Stock Exchange as well. The CASPI index gained 141 points to 14,630, while the CSCX index rose 78 points to 8,945.
Analysts said the easing of geopolitical uncertainty prompted investors to return to the market, as improved global cues and reduced risk perceptions encouraged fresh capital inflows.
The rebound highlights how external developments continue to influence local equities, with investor sentiment closely tied to shifts in the global economic and political landscape.
