Dhaka, Bangladesh (BBN)- Bangladesh’s stocks extended their winning streak for the sixth straight week that ended on Thursday, as optimistic investors continued on buying spree amid growing confidence.
The week witnessed five trading sessions as usual. Of them, first session saw marginal correction while last four closed higher with increased participation from investors.
The prime index of the Dhaka Stock Exchange (DSE) rose 69.79 points or 1.45 percent to finish the week at 23 months’ high at 4,892.82 points, which was the highest level of DSEX since January 18, 2015, when DSEX was 4,917.37.
LankaBangla Securities, said, “Stock market of Bangladesh has just passed a remarkable week with broad index reaching 23 months’ highest level as enthusiastic optimism shown by the investors”.
The two other indices also ended higher. The DS30 index, comprising blue chips, advanced 7.96 points or 0.45 percent to settle at 1,787.70 points.
The DSE Shariah Index rose 11.86 points or 1.03 percent to close at 1,161.37 points.
The port city bourse, Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index, CSCX, soaring 128.40 points or 1.42 percent to close at 9,151.66 points.
The total turnover for the week jumped to BDT 43.51 billion which was BDT 36 billion in the week before.
The average daily turnover for the week stood at BDT 8.70 billion, which was 20.83 percent higher than the previous week’s average of BDT 7.20 billion.
“The market passed another shinning week as spontaneous participation backed by hopes and excitements coupled with steady capital market scenario continued to lure investors to take position on sector specific stocks, taking the prime index to 23 months’ high,” said an analyst.
International Leasing Securities, a stockbroker, said, “The market continued the buoyant temper as the spontaneous participation supported by steady capital market scenario tempted the cheerful investors went for position taking through injecting fresh fund on sector specific stocks”.
Of the 327 issues traded, 182 closed higher, 120 lower and 26 remained unchanged on the DSE trading floor last the week.
IFAD Autos dominated the week’s turnover chart with 17.31 million shares of BDT 1.55 billion changing hands, followed by Bangladesh Building Systems, Shasha Denims, Ratanpur Steel Re-rolling Mills and Argon Denims.
HR Textiles was the week’s best performer, posting a 28.13 percent gain, while National Tubes was the worst loser, slumping by 14.06 percent.
BBN/SSR/SR