Dhaka stocks bounce back

Stocks in Bangladesh bounced back today, just a day after tumbling, despite the intensifying US-Israel war on Iran.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surged 132 points, or 2.64 percent, to 5,141.

While some investors executed panic sales amid the war escalation, others took positions hoping the economy will recover under the new political government.

“The market behaves in a way that it soars one day and plunges the next,” said a top official of a leading stock brokerage.

If the war situation eases, he expects better market movement ahead.

The DSES, which tracks Shariah-based companies, rose 21 points, or 2.1 percent, to 1,035.

At the same time, the DS30, the blue-chip index, increased 55 points, or 2.9 percent, to 1,975.

Turnover, another important indicator of the stock market, fell to Tk 410 crore from Tk 531 crore the previous day.

Among the traded stocks, 351 advanced, 17 declined and 20 remained unchanged.

A similar rising trend was seen in the Chittagong Stock Exchange (CSE).

The CASPI, the major index of the port city bourse, rose 82 points, or 0.57 percent, to 14,487.