The benchmark index of the Dhaka Stock Exchange (DSE) extended its recovery for a second consecutive session on Wednesday, as investors continued bargain hunting in beaten-down stocks despite cautious sentiment over persistent domestic concerns.

The DSEX, the broad index of the DSE, rose 23.1 points to close at 5,660, up from 5,637 in the previous session.

The market opened positively, but early gains narrowed amid intermittent selling pressure as investors remained active on both sides of the market. Sustained buying interest in textile and insurance stocks, however, helped the market finish higher.

Market turnover also increased significantly, rising 22.5 percent to Tk 7.3 billion from Tk 5.9 billion in the previous session.

Textile stocks dominated turnover, accounting for 39.5 percent of the total, followed by general insurance at 13.1 percent and pharmaceuticals at 10.3 percent.

Most sectors closed higher. General insurance gained 2.3 percent, textile stocks rose 2.0 percent and tannery stocks advanced 1.4 percent. Financial institutions and jute were the only sectors to post marginal declines, falling 0.4 percent and 0.3 percent respectively.

Of the 395 issues traded, 238 advanced, 89 declined and 68 remained unchanged.

The Chittagong Stock Exchange (CSE) also ended higher. Its Selective Categories’ Index (CSCX) gained 31.7 points, while the All Share Price Index (CASPI) advanced 56.2 points.