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Dhaka, Bangladesh (BBN) – Bangladesh’s stocks edged up last week that ended on Thursday as some optimistic investors continued their buying spree on some large-cap issues.
Brokers said buoyancy in several large-cap issues from fuel and power, food and allied, financial institutions, telecom, bank and engineering sectors contributed the market to stay positive territory.
The week featured four trading sessions instead of five as the market remained close on Monday on the occasion of the May Day.
Of them, two sessions faced correction while two closed positive.
The benchmark index of the Dhaka Stock Exchange (DSE) settled at 5,541 points, edging up by 6.29 points or 0.11 percent over the previous week.
The DSE Shariah Index also advanced 1.14 points or 0.09 percent to finish at 1,275 points.
However, the DS30 index, comprising blue chips, remained in the red, shedding 1.0 points or 0.05 percent to close at 2,034 points.
The port city bourse, Chittagong Stock Exchange (CSE), also edged up with its Selective Categories Index, CSCX, advancing 8.65 points or 0.08 percent to close at 10,416 points.
The total turnover for the week stood at BDT 28.42 billion, falling 1.43 percent over the previous week’s BDT 28.83 billion as last week saw four trading sessions instead of five.
The daily turnover averaged at BDT 7.10 billion, which was more than 23 percent higher than the previous week’s average of BDT 5.76 billion.
“Stocks witnessed marginal gain last week as the investors continued their buying spree on large-cap stocks especially from bank sector,” said International Leasing Securities.
Out of 331 issues traded, 183 closed lower, 131 closed higher and 17 remained unchanged on the DSE trading floor.
United Power Generation and Distribution Company dominated the week’s turnover chart with about 19.46 million shares of BDT 1.33 billion changing hands, closely followed by LankaBangla Finance, Shahjibazar Power, Saif Powertec and Bangladesh Finance and Investment.
Bangladesh Finance and Investment was the week’s best performer, posting a gain of 29.19 percent, while Janata Insurance Company was the worst loser, slumping by 28.36 percent.
BBN/SS/ANS