Dhaka, Bangladesh (BBN)– Bangladesh’s stocks passed another eventful week that ended Thursday with the prime index of the major bourse crossing the 6,200-mark for the first time since its inception in January 2013.
Market insiders said the capital market passed another eventful week and the investors are exhibiting bullish mentality amidst increased fund flow towards the market.
The week featured five trading sessions as usual. Of them, three sessions closed higher while two faced marginal correction.
The benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, went up by nearly 90 points or 1.45 percent to settle at 6,204, the highest level since its inception on January 27, 2013.
The two other indices — the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at historical high at 2,225 and 1,385 points, after soaring 46.69 points and 37.41 points respectively.
The port city bourse, Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index, CSCX, advancing 182 points or 1.58 percent to settle at 11,650.
The bullish sentiment of market also reflected on turnover activity as the total turnover for the week stood at BDT 61.64 billion on DSE which was BDT 42.31 billion in the week before, rising 46 percent.
The last week saw five trading sessions instead of previous week’s four.
The daily turnover averaged at BDT 12.33 billion, which was 16.56 percent higher than the previous week’s average of BDT 10.58 billion.
International Leasing Securities, said, “The market maintained the upward trend amid enthusiastic investors’ presence in the market helped the benchmark index to cross 6,200 points mark for the first time after its inception since January 2013”.
The stockbroker noted that the bargain hunters took position on the lucrative price levels in pharmaceuticals, cement, telecom and financial institution sector stocks while some others were rebalancing their portfolios over the week.
“Persistent upbeat market trend tempted the sideline investor injected fresh fund on stocks which led the average turnover to cross BDT 12 billion,” the stockbroker added.
The gainers took a marginal lead over the losers as out of 333 issues traded, 178 closed higher, 136 lower and 19 remained unchanged on the DSE trading floor.
LankaBangla Finance topped the week’s turnover chart with 45 million shares of BDT 2.88 billion changing hands, closely followed by Square Pharmaceuticals, Premier Bank, City Bank and Al-Arafa Islami Bank.
Provati Insurance was the week’s highest gainer, posting an 18.37 percent gain, while Bangladesh Steel Re-rolling Mills was the worst loser, losing 11.30 percent.