Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to the green zone last week that ended on Thursday, after remaining down in the previous three weeks as investors showed buying appetite in large cap stocks.
The week witnessed five trading sessions as usual. Of them, four sessions closed higher while one session saw marginal correction.
The benchmark index of the Dhaka Stock Exchange (DSE) went up by 59.31 points or 1.25 percent to close the week at 4,819.45 points over the previous week.
The DS30 index, comprising blue chips, rose 33.53 points or 1.85 percent to finish at 1,848.12 points. The DSE Shariah Index gained 19.01 points or 1.63 percent to end the week at 1,186.67 points.
The port city bourse Chittagong Stock Exchange (CSE) also closed higher last week with its Selective Categories Index – CSCX – gained 116.60 points or 1.31 percent to close the week at 8,986.47 points.
The total turnover on DSE stood at BDT 22.57 billion last week against BDT 22.16 billion in the week before.
The daily turnover for the week averaged BDT 4.51 billion, registering an increase of 1.81 percent over the previous week’s averaged BDT 4.43 billion.
LankaBangla Securities, a stockbroker, said, “The market gave upbeat performance on the backdrop of smaller cap stocks, while the behemoths remained quite muted”.
“The search for lucrative spreads and then short-term positioning and repositioning put the market in a slowing mood,” said IDLC Investments, a merchant bank, in its weekly analysis.
Losers, however, outpaced gainers as out of 326 issues traded, 154 declined, 147 advanced and 25 remained unchanged on the DSE floor during the week.
Beximco Pharma dominated the week’s top turnover chart with shares worth BDT 847 million changing hands followed by Islami Bank, Aman Feed, BSRM and United Airways.
Power Grid Company was the week’s best performer, posting a rise of 18.25 percent on the news of Bangladesh Energy Regulatory Commission’s increase of transmission tariff for the company while Monno Ceramics was the week’s worst loser, plunging by 12.69 percent.