Dhaka, Bangladesh (BBN)- Bangladesh’s stocks gained for second straight week with key index of the major bourse crossing 4,600-mark after four months as continuous positive market trend boosted investors’ confidence up.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,642.38 points after surging 64.38 points or 1.41 per cent over the previous week.
The DS30, comprising blue chips and the DSE Shariah Index closed at highest point level of 1,758.24 points and 1,088.93 points respectively from the inception after gaining 31.77 points and 22.80 points during the week.
The port city bourse Chittagong Stock Exchange (CSE) also ended marginally higher with its Selective Categories Index - CSCX – went up by 66.87 points or 0.77 percent to close at 8,725.25 points.
However, fresh fund injection slowed down last week. The week’s total turnover amounted to BDT 27.00 billion which was BDT 34.51 billion in the week before.
The daily turnover for the week averaged BDT 5.40 billion, registering a decline of 21.76 per cent over the previous week’s average BDT 6.90 billion.
LankaBangla Securities said: “Market closed last week above 4,600-level and it will give some boost to the investors”.
“Coupled with extended vibe in large cap stocks, short-term profit motivated clienteles to look at some micro and small cap stocks,” IDLC Investments.
The stock market went for a bullish outlook as investors finally overcome their recent indecisiveness and became optimistic about the market’s future prospects, said International Leasing Securities.
Gainers outpaced losers as out of 309 issues traded, 189 gained, 101 declined and 19 remained unchanged on DSE floor during the week.
The market capitalisation of the DSE went up sharply by 3.12 percent as it was BDT 3,030.89 billion on the opening day of the week and it stood at BDT 3,125.35 billion on closing day of the week.
Beximco dominated the week’s top turnover chart for the second week straight with shares worth BDT 1.33 billion changing hands followed by GP, MJL BD, Lafarge Surma Cement and Beximco Pharma.
Intech Online, an IT sector company was the week’s top gainer, posting a rise of 27.27 percent while AIMS First Mutual Fund was the week worst loser, plunging by 25.24 percent following its price adjustment in the week after record date.
BBN/SSR/AD-06Sept14-10:02 am (BST)