Dhaka Stocks Rebound After Six-Day Losing Streak

Stocks rebounded on Thursday after a six-session losing streak as investors stepped up buying of fundamentally strong shares following the publication of revised margin loan rules.

The Dhaka Stock Exchange (DSE) released a list of 138 securities eligible for margin loans under the revised guidelines. Market insiders said the new rules appeared more market-friendly with helping ease the uncertainty that had weighed on investor sentiment in recent sessions.

DSEX benchmark index and gained 32 points or 0.55% to reach 5,801 by 11am when the report was filed. The blue-chip DS30 index rose 6 points to 2,168 while the Shariah-based DSES index also climbed 6 points to 1,156.

Trading activity remained relatively slow, with turnover reaching Tk 1.68 billion in the first hour. Market breadth was strongly positive with 300 issues advancing against just 36 declining and 45 unchanged with reflecting broad-based buying interest.

Techno Drugs led trading volume, with shares worth Tk.113 million changing hands during the first hour.

The Chittagong Stock Exchange (CSE) also opened higher with its All Share Price Index (CASPI) gaining 34 points to 15,528 and the CSE Selective Categories Index (CSCX) rising 22 points to 9,467 by 11am.