Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed marginal gain last week that ended on Thursday, after remaining down in the previous three weeks as investors went on buying spree.
The week featured five trading sessions as usual. Of them, three sessions closed higher while two sessions saw marginal fall.
The benchrmak index of the Dhaka Stock Exchange (DSE) went up by 10.23 points or 0.22 percent to settle the last session of the week at 4,581.35 points.
The DS30 index, comprising blue chips, advanced 16.86 points or 0.97 percent to settle at 1,759.59 points.
The DSE Shariah Index rose 10.45 points or 0.94 percent to close at 1,118.87 points.
The port city bourse Chittagong Stock Exchange (CSE) also edged higher after three weeks with its Selective Categories Index, CSCX, advancing 40.28 points or 0.47 percent to end at 8,590.10 points.
The total turnover for the week stood at BDT 18.64 billion which was BDT 20.57 billion in the week before.
The daily turnover averaged BDT 3.73 billion, which was 9.41 percent lower than the previous week’s average of BDT 4.11 billion.
“Indecisive investment mindset kept investors focused on volatility generated profit opportunities throughout the week,” said IDLC Investments.
However, hesitant trading behavior showed up pushing the market participation down, said the merchant bank.
LankaBangla Securities, said, “After having a downward trend in January, the benchmark DSEX seems to be consolidating with a base around 4,560-level”.
The losers took a strong lead over the gainers as out of 330 issues traded, 221 closed lower, 94 higher and 15 issues remained unchanged on the DSE trading floor during the week.
Beximco Pharma dominated the week’s turnover chart with shares worth BDT 1.14 billion changing hands followed by Bangladesh Steel Re-rolling Mills, City Bank, Square Pharma and United Power.
Libra Infusion was the best performer for the second straight week, posting a rise of 26.41 percent while Makson Spinning was the week’s worst loser, slumping by 20.93 percent.
BBN/SSR/BB