Dhaka, Bangladesh (BBN) – The Dhaka Stock Exchange General Index (DGEN) pared its gains from the previous week’s record highs with the steepest one day fall recorded since 1996 on Sunday.
The market fell as banks and brokerage houses implemented Securities and Exchange Commission (SEC) and Bangladesh Bank directives in limiting their exposures to the equities market.
The DGEN however regained subsequently for the rest of the week as SEC relaxed the conditions for limiting the exposures. Overall, the DGEN declined by 62.2 points or 0.97 percent during the week to close at 6,342.76 points.
On the other hand, US equities rose during the week on optimism from positive earnings and sales forecasts as well as better than expected new home sales figures which raised housing industry stocks.
The Standard & Poor 500 (S&P 500) index also moved above its 200-day moving average which provided the impetus for the Dow Jones Industrial Average index (DJIA) to close on Tuesday at its highest level in a month.
During the week, the DJIA gained 175.58 points or 1.70 percent to close at 10,497.88, while the NASDAQ Composite Index rose 18.67 points or 0.83 percent to close at 2,264.56 levels, according to reports.
Japan’s Nikkei 225 index opened the week at 9,371.41 points on Friday and rose during the week as strong corporate earnings and optimism about a recovering Europe pushed Japanese stocks ahead.
The Nikkei ended the week closing at 9,696.02 levels on Thursday, having gained 317 points or 3.38 percent during the week.
The BSE Sensex index opened at 18,178.21 points on Friday and declined during the week by 121.15 points or 0.67 percent to close on Thursday at 17,992.00 levels.
BBN/SSR/SI/AD-30July10-9:01 pm (BST)
