Dhaka, Bangladesh (BBN)– Bangladesh’s stocks returned to the green last week that ended on Thursday, after a single-week break, as investors took position on sector-specific large-cap stocks.
Analysts said the market closed positive amid increased turnover as optimistic investors showed their buying appetite on sector-wise stocks while cautious investors opted for booking profit ahead of Eid Festival.
There are only five trading sessions left before the start of the Eid-ul-Azha vacation. Trading on the bourses is scheduled to remain closed from from September 01.
The week witnessed five trading sessions as usual. Of them, three session closed higher while two faced correction.
The DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, went up by 24.31 points or 0.41 per cent to settle at 5,885 points.
The two other indices — the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at 2,111 and 1,306 points, after advancing 2.25 points and 1.44 points respectively.
The port city bourse, Chittagong Stock Exchange (CSE), also finished higher with its Selective Categories Index, CSCX, gaining 34 points or 0.30 percent to settle at 11,034 points.
International Leasing Securities, a stockbroker, said, “The market returned to the green after a single-week break as investors took fresh position on the lucrative price levels in different stocks that helped the bourse to close in green”.
The total turnover for the week stood at BDT 41.64 billion on major bourse which was BDT 24.46 billion in the week before as last week saw five trading sessions instead of previous week’s three.
The daily turnover averaged at BDT 8.33 billion, which was 2.13 percent higher than the previous week’s average of BDT 8.15 billion.
BBS Cables topped the week’s turnover chart with shares of BDT 2.28 billion changing hands, closely followed by Bangladesh Building Systems, LankaBangla Finance, Fortune Shoes, and ACI Limited.
Monno Ceramics was the week’s highest gainer, posting 42 percent gain, while Sandhani Life Insurance Company was the worst loser, losing 18.31 percent.