Stocks in Bangladesh rebounded yesterday after lacklustre earnings disclosures from many listed companies for the first quarter of the fiscal year had seen the market trend down over the previous week.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 73.43 points, or 1.44 percent, from the day prior to close at 5,178.

Led by Square Pharmaceuticals, one of the top five companies in terms of market capitalisation, the pharmaceuticals sector dominated market activities.

Shares of Square Pharma gained 4.94 percent to Tk 222.90 yesterday while prices of ACME Laboratories' shares increased 8.86 percent to Tk 77.40 yesterday.

"With the rise, the market recovered from last week's losing streak," Md Saiful Islam, president of the DSE Brokers Association of Bangladesh (DBA), said.

However, he said there was no specific reason for the gain.

"Last week, the market fell consistently. It is normal for it to bounce back. That has happened," he added.

The DSES index for Shariah-based companies went up 12.40 points, or 1.09 percent, to 1,152, while the DS30 index, which represents blue-chip firms, grew 26.42 points, or 1.40 percent, to 1,908.

Of the issues that changed hands on the DSE, 232 closed higher, 89 fell and 69 remained unchanged.

However, turnover, a key indicator of liquidity flow in the market, fell 13.5 percent to Tk 304 crore on the DSE from the previous day.

The market movement was driven by positive changes in the market cap of travel and leisure, bank, and paper & printing scrips amid negative changes in the market cap of cement, Shanta Securities said in its daily market review.

BRAC EPL Stock Brokerage said the pharmaceuticals sector booked the highest gain of 2.67 percent followed by the non-bank financial institutions at 1.15 percent and food & allied at 1.13 percent and fuel and power at 1.06 percent.