Stocks break two-day losing spell
Stocks returned to the black yesterday, breaking a two-day losing streak, as investors went on a buying spree amid optimism.
DSEX, the benchmark general index of the Dhaka Stock Exchange, gained 22.5 points or 0.42 percent, to close at 5,315. The shariah index, DSES, of the premier bourse, rose 8.67 points or 0.69 percent, to close at 1,248.
Having optimistic support of large-cap stocks, the market reversed last two sessions' correction mood, IDLC Investments said.
Meanwhile, investors started rebalancing portfolios ahead of upcoming third-quarter earnings disclosures, the investment banker said.
Better earnings in some mutual funds also spurred investors to take position and assisted most mutual funds to close in green zone, with six of them attaining positions on the top ten gainers' list.
Turnover, the most important indicator of the market, gained 11.1 percent to Tk 975 crore, compared to the previous day.
Gainers beat the losers by 156 to 125, with 22 issues remained unchanged on the DSE.
MJL Bangladesh was the most liquid stock of the day with 34.71 lakh shares worth Tk 55 crore changing hands, followed by Square Pharma, Titas Gas and Grameenphone.
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