Dhaka, Bangladesh (BBN)- Bangladesh’s stock market passed another shinning week, extending the fifth week in a row that ended on Thursday, with key index of the premier bourse reaching 14 months’ high.
Analysts said the market maintained the upward trend as large-cap stocks continued to get investors attention amid growing confidence.
The week witnessed five trading sessions as usual. Of them, three sessions closed higher while two saw marginal correction.
The prime index of the Dhaka Stock Exchange (DSE), went up by 31.69 points or 0.66 percent to finish the week at 4,823.02, which was the highest level of DSEX since October 6 last year, when DSEX was 4,833.33 points.
The two other indices also closed higher. The DS30 index, comprising blue chips, advanced 18.16 points or 1.03 per cent to settle at 1,787.70 points.
The DSE Shariah Index rose 16.24 points or 1.43 percent to close at 1,149.51 points.
The port city bourse, Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index, CSCX, gaining 60.97 points or 0.68 percent to close at 9,023.26 points.
The total turnover for the week stood at BDT 36 billion against BDT 39.77 billion in the week before.
The average daily turnover for the week stood at BDT 7.20 billion, which 9.5 percent lower than the previous week’s average BDT 7.95 billion.
LankaBangla Securities, a stockbroker, said, “Bull run continued to resonate the market after hitting the benchmark index above 4,800 level during the week and the market is moving towards the 4,870 resistance level steadily amidst strong liquidity”.
International Leasing Securities, a stockbroker, said, “Stocks witnessed marginal gain with the benchmark index crossing the ‘psychological’ 4,800- mark after 14 months as the cheerful investors remained active on some large-cap stocks”.
The gainers took a strong lead over the losers as out of 328 issues traded, 187 closed higher, 107 lower and 34 remained unchanged on the DSE trading floor last the week.
Bangladesh Building Systems dominated the week’s turnover chart with 26.29 million shares worth BDT 1.13 billion changing hands, followed by Quasem Drycells, Doreen Power, Lafarge Surma Cement and Beximco.
National Tubes was the week’s best performer, posting a 26.56 percent gain, while Emerald Oil Industries was the worst loser, slumping by 11.11 percent.
BBN/SSR/SR