BBN file photo
Dhaka, Bangladesh (BBN)- Bangladesh’s stocks rebounded last week that ended on Thursday as optimistic investors showed their buying spree on financial issues.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 51.55 points or 0.98 percent to settle the week at 5,332.
The week featured five trading sessions as usual. Of them, first four sessions closed higher while last one faced modest correction.
Analysts said a section of investors were active on sector specific issues, especially banking, financial institutions and telecommunication sectors, taking the core index above 5,300-mark.
According to LankaBangla Securities, upward shift in the index is mainly driven by significant positive changes in large-cap sectors like cement, banking, financial institutions, cement, telecommunication and engineering.
The cement sector posted the highest gain of 3.20 percent, followed by engineering with 2.40 percent, banking 2.10 per cent, financial institutions 1.80 percent and telecom 0.10 percent.
EBL Securities said the investor sentiment remained positive almost throughout the week as investors started taking fresh position while some adopted ‘go slow’ policy ahead of national elections.
Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also inched higher.
The DS30 index, comprising blue chips, advanced 0.92 points to finish at 1,862 and the DSE Shariah Index gained 0.73 points to close at 1,224.
Total turnover, however, fell to BDT 30.03 billion on the DSE which was BDT 31.53 billion in the week before.
The daily turnover averaged BDT 6.0 billion, registering a decline of 5.0 percent over the previous week’s average of BDT 6.31 billion.
Of the 346 traded issues, 224 closed higher, 100 declined and 22 issues remained unchanged on the DSE trading floor last week.
Saiham Cotton Mills topped the week’s turnover chart with 29.26 million shares worth BDT 791 billion changing hands during the week.
The other turnover leaders were Dragon Sweater T, Advent Pharma, Paramount Textile and United Power.
Sonali Aansh Industries was the week’s best performer, posting a gain of 48.90 percent while ML Dyeing was the worst loser, losing 17.09 percent.
The port city bourse CSE returned to higher with its CSE All Share Price Index – CASPI –advancing 144 points to settle at 16,326 and the Selective Categories Index - CSCX –gaining 68 points to finish at 9,878.
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