Dhaka, Bangladesh (BBN)- Bangladesh’s stocks ended higher for the four consecutive week that ended on Thursday as investors continued on buying spree amid growing confidence.
DSEX, the prime index of Dhaka Stock Exchange (DSE) crossed the 4,500 points, staying above the level throughout the week and ended at 4,554.51 points after gaining 68.31 points or 1.52 percent.
The other two indices saw sharp gain. The DS30, comprising blue chips, soared 53.22 points or 3.22 percent to close at 1,705.93 points. The DSE Shariah Index surged 34.17 points or 3.33 percent to close at 1,060.44 points.
The port city bourse, the Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index - CSCX – went up by 103.85 points or 1.22 percent to close at 8,596.27 points.
The week’s total turnover on DSE stood at BDT 33.61 billion against BDT 27.20 billion in the week before.
The daily turnover for the week averaged BDT 6.72 billion, registering a 23.5 percent increase over the previous week’s average of BDT 5.44 billion.
IDLC Investments, in its weekly analysis said “Stable macroeconomic indicators amid calm political scenario kept a positive ‘psychological’ impact, strengthening investors’ confidence level”.
“Positive growth in earnings of most of the listed companies, falling interest rate and excess liquidity in the banking sector might have made the investors hopeful about the market,” observed LankaBangla Securities.
Twelve mutual funds and two listed companies made corporate declaration last week.
MJL Bangladesh dominated the week’s top turnover chart last week, with shares worth BDT 2.20 billion changing hands followed by GP, Square Pharma, Active Fine Chemicals and Lafarge Surma Cement.
Summit Purbanchol Power Company Ltd was the week’s top gainer, posting a rise of 22 percent while ICB Sixth Mutual Fund was the week’s worst loser, plunging by 19.26 percent.
BBN/SSR/AD-15Aug14-7:24 pm (BST)