Business Desk :
Stocks rebounded strongly on Wednesday, with a turnover crossing Tk 12 billion-mark on the major bourse after four-month, as bargain hunters put fresh stakes on stocks amid optimism.
DSEX, the prime index of the DSE, went up by 34.80 points or 0.68 per cent to settle at 5,133, after losing more than 16 points in the previous day.
Market operators said spontaneous participation backed by high expectations lured the investors to take positions on the large-cap stocks, taking the market turnover nearly four-month high.
Factors like lower returns on the money market amid liquidity glut, hope for Covid-19 vaccine and strong regulatory actions against wrongdoers prompted sideline investors to put fresh funds on stocks, they said, reports FE. The rally has been largely supported by high market liquidity and fundamentally strong stocks like banking, power, non-bank financial institutions and telecom sector stocks, said a merchant banker.
Top positive index contributors of the market were United Power, Beximco, LafargeHolcim, Beximco Pharma and Square Pharma, according to data from amarstock.com, a stock market data analyst.
Stocks rebounded strongly on Wednesday, with a turnover crossing Tk 12 billion-mark on the major bourse after four-month, as bargain hunters put fresh stakes on stocks amid optimism.
DSEX, the prime index of the DSE, went up by 34.80 points or 0.68 per cent to settle at 5,133, after losing more than 16 points in the previous day.
Market operators said spontaneous participation backed by high expectations lured the investors to take positions on the large-cap stocks, taking the market turnover nearly four-month high.
Factors like lower returns on the money market amid liquidity glut, hope for Covid-19 vaccine and strong regulatory actions against wrongdoers prompted sideline investors to put fresh funds on stocks, they said, reports FE. The rally has been largely supported by high market liquidity and fundamentally strong stocks like banking, power, non-bank financial institutions and telecom sector stocks, said a merchant banker.
Top positive index contributors of the market were United Power, Beximco, LafargeHolcim, Beximco Pharma and Square Pharma, according to data from amarstock.com, a stock market data analyst.
