DHAKA, Dec 3, 2024 (BSS) - Country's both the bourses- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE)- today witnessed an upward trend like previous day following the government's recent moves to restore investor confidence.

Market analysts observed that the country's capital market experienced a positive closure as bargain hunters outnumbered, seeking the opportunity to collect selective stocks at attractive price levels. 

This renewed activity was further fueled by media reports highlighting the central bank revising down the interest rate of the much-needed Taka 30 billion sovereign-guaranteed loan to ICB, which lifted investor sentiment and added momentum to the trading floor, they added.

DSEX, the broad index of the Dhaka Stock Exchange, advanced by 24.1 points and settled at 5,226 points as against 5,202 points in the previous trading session. The DSE 30 Index, comprising blue chips, and the DSE Shariah Index (DSES) also gained 7.65 points to finish at 1921.16 and 6.11 points closing at 1,174.54.

Market analysts also observed that the indices maintained its position on the upbeat trajectory for most of today's session, driven by a broad-based market momentum supported by price appreciation across the majority of stocks. 

Meanwhile, market turnover inched up by 2.4 percent to Taka 5.1 billion as against Taka 5.0 billion in the previous session. 

On the sectoral front, Pharma (14.6 percent) issues exerted the highest turnover, followed by Bank (13.0 percent) and Textile (11.3 percent) sectors. 

Most of the sectors displayed positive returns, out of which Services (4.4 percent), Paper (2.7 percent) and Financial Institution (2.4 percent) exerted the most gains while Jute (-1.6 percent), Tannery (-0.4 percent) and Bank (-0.1 percent) exerted marginal corrections on the bourse today. 

Out of the 397 issues traded, 199 advanced, 120 declined and 78 remained unchanged.

The port city bourse, CSE, also settled on green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) rose by 24.2 and 43.5 points, respectively.