Dhaka, Bangladesh (BBN)-Bangladesh’s stocks ended higher last week that ended on Thursday, after reaming down in the last three weeks as investors took position on large-cap stocks amid optimism.
The week featured five trading sessions as usual. Of them, three sessions closed higher while two sessions saw marginal correction.
The benchmark index of the Dhaka Stock Exchange (DSE) settled the week at 4,443.07 points, gaining 85.53 points or 1.96 per cent last week over the previous week.
The DS30 index, comprising blue chips, surged 37.29 points or 0.2.26 per cent to finish at 1,686.24 points.
The DSE Shariah Index gained 23.76 points or 2.26 per cent to close at 1,075.90 points.
The port city bourse Chittagong Stock Exchange (CSE) also ended higher after three weeks with its Selective Categories Index, CSCX, advancing 163.93 points or 2.01 per cent to finish at 8,304.78 points.
The total turnover for the week stood at BDT 20.43 billion, which was BDT 16.77 billion in the previous week.
The daily turnover averaged BDT 4.08 billion, registering an increase of 21.81 per cent over the previous week’s average of BDT 3.35 billion.
“Encouraging macroeconomic cues, like estimated economic growth of 7.05 per cent for this fiscal as reported by Bangladesh Bureau of Statistics, spurred positive vibes in the market,” said IDLC Investments, in its weekly analysis.
“Recent price correction attracted the investors into the market heightening the demand of issues along different cap classes.
The gainers took a modest lead over the losers as out of 327 issues traded, 173 closed higher, 129 lower and 25 remained unchanged on the DSE trading floor during the week.
The newly listed Doreen Power Generations and Systems dominated the turnover chart last week with shares worth BDT 832 million changing hands, followed by LankaBangla Finance, The IBN Sina, Bangladesh Steel Re-rolling Mills and Keya Cosmetics.
The IBN Sina was the week’s best performer for the second consecutive week, posting a gain of 17.74 per cent, while the recently listed while Dragon Sweater and Spinning was the week’s worst loser, slumping by 13.61 per cent.