Written by The Banking Post
Stocks opened higher on Tuesday, recovering from recent sharp losses as investors moved in to pick up undervalued blue-chip shares.
Analysts said opportunistic buyers returned to the market following the recent correction, although overall sentiment remained cautious. Concerns over Middle East tensions, the lingering fuel crisis, and uncertainties surrounding the government’s austerity measures continued to weigh on broader participation.
By 11:00 am, the benchmark index of the Dhaka Stock Exchange (DSE) rose more than 45 points, or 0.88 per cent, to 5,167, extending the previous session’s gains.
The DS30 index, comprising leading blue-chip companies, advanced 15 points to 1,969, while the Shariah-based DSES index climbed 10 points to 1,050.
Despite the upward trend, trading activity remained subdued. Turnover stood at Tk 1.0 billion, indicating a lack of strong participation from investors.
Market breadth, however, was firmly positive, with 306 stocks advancing, 31 declining, and 37 remaining unchanged.
Lovello Ice-cream led the turnover chart, with shares worth Tk 115 million traded, followed by Acme Laboratories, Techno Drugs, and BD Autocars.
The Chittagong Stock Exchange (CSE) also posted modest gains. Its All Shares Price Index (CASPI) edged up 3 points to 14,484, while the Selective Categories Index (CSCX) added more than 2 points to 8,862.
Market watchers said the rebound reflects short-term bargain hunting, but a sustained recovery will depend on improvements in macroeconomic conditions and investor confidence.
