Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended gaining spell for the second straight weeks with increasing turnover value as investors were remained active both sides of the trading fence throughout the week.
The week featured five trading sessions as usual. Of them, first two sessions saw marginal correction while last three closed higher.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 18.87 points or 0.40 percent to settle at 4,694.95 points.
However, the two other indices closed in the red. The DS30 index, comprising blue chips, fell 10.18 points or 0.57 percent to finish at 1,761.11. The DSE Shariah Index dropped 7.95 points or 0.71 percent to close at 1,118.95 points.
The port city bourse Chittagong Stock Exchange (CSE) ended marginally higher with its Selective Categories Index – CSCX – advancing 52.51 points or 0.60 percent to end at 8,737.82.
“Short-term and event driven issues clicked investment motives throughout the week. Hence, flat-ends sustained with equal buying and selling strength,” said IDLC Investments, in its weekly analysis.
However, investors kept eyeing macroeconomic issues like World Bank’s reiteration of expectation of 6.5 percent growth in FY 2015-16, concurring development of gradual pick up in private sector credit growth, said the merchant bank.
The total turnover for the week stood at BDT 31.45 billion against BDT 27.13 billion in the week before.
The daily turnover averaged BDT 6.28 billion, which was 16 percent higher than the previous week’s average of BDT 5.42 billion.
LankaBangla Securities, a stockbroker, said, “Stocks edged higher riding on the back of small-cap companies”.
Price of majority of the financial institutions (except life insurance companies) increased during the week.
Gainers outpaced losers as out of 328 issues traded, 197 closed higher, 113 lower and 18 remained unchanged on the DSE trading floor during the week.
United Power Generation and Distribution Company dominated the week’s turnover chart for the second straight week with shares worth BDT 1.29 billion changing hands followed by BD Thai Aluminium, Emerald Oil, IT Consultants and City Bank.
United Insurance was the week’s best performer, posting a rise of 30.08 percent while Anwar Galvanizing was the week’s worst loser, slumping by 18.89 percent.