Retailers trade at Dhaka Stock Exchange office. BBN file photo
Dhaka, Bangladesh (BBN)- Bangladesh’s stocks ended marginally higher last week that ended on Thursday, extending the gaining streak for the second week in a row, as investors continued their buying spree.
Analysts said most of the investors were buying shares, particularly from power, food and pharma sectors, taking the market in the positive territory.
The week featured five trading days as usual. Of them, three sessions edged lower while two sessions ended higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 16.74 points or 0.31 percent to settle at 5,435 points.
Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 27 points to close at 1,925 and the DSE Shariah Index rose 15 points to end at 1,265.
According to LankaBangla Securities, this upward shift in the index is mainly driven by significant positive changes in large-cap sectors like power, food and pharmaceuticals.
Turnover, another important indicator of the market, also rose and the total turnover amounted to BDT 38.94 billion which was BDT 28.79 billion in the week before.
The daily turnover averaged BDT 7.78 billion, registering an increase of 35 percent over the previous week’s average of BDT 5.75 billion.
“The bargain hunters took position on sector specific stocks especially from power, food and pharma sector which led the bourse to close higher,” commented International Leasing Securities.
Of the 343 traded issues, 213 closed lower, 111 ended higher and 19 issues remained unchanged on the DSE floor last week.
Khulna Power Company topped the week’s turnover chart for the fourth straight week with 32.17 million shares worth BDT 4.41 billion changing hands.
The other turnover leaders were United Power, Summit Power, Dragon Sweater and Active Fine Chemicals.
Central Pharmaceuticals was the week’s highest gainer, posting a gain of 29.31 percent while Legacy Footwear was the worst loser, as its price plunged 27.41 percent.
The port city’s bourse, Chittagong Stock Exchange (CSE), also closed higher with the CSE All Share Price Index - CASPI –advancing 117 points to settle at 16,777 points.
The Selective Categories Index - CSCX – also rose 74 points to close the week at 10,164.
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