Dhaka stocks break losing streak

Dhaka stocks bounced back on Tuesday bucking the bearish trend over the last five sessions when the market slumped by almost 3 percent.

Staff Correspondentbdnews24.com
Published : 6 Feb 2018, 09:18 AM
Updated : 6 Feb 2018, 09:18 AM

Dhaka Stock Exchange’s benchmark DSEX closed 1.35 percent higher, gaining the most since Feb 8 last year, when it gained 1.78 percent.

Amid the announcement of a new monetary policy and cuts in banks’ lending limits coupled with fears of political instability, the country’s prime bourse fell 2.9 percent in the last five trading days.

On Sunday, the DSEX index plunged 2.21 percent— the sharpest single-day drop in almost three years and continued to slide the next day dropping to its lowest level since Aug 23 last year.

The broad index rose by 79points to end on 5949.

Losers beat gainers 276 to 38 and 23 scrips remained unchanged with shares of Tk 3.22 billion changing hands, down from Tk 4.4 billion on Monday.