Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended their gaining streak for the sixth straight week that ended on Thursday as investors kept their buying appetite on large-cap shares.
Analysts said stocks maintained its post-election rally amid spontaneous participation backed by hopes and excitements, taking the core index above 5900-mark last week after more than 11 months.
The week saw five trading days as usual. Of them, the market closed higher four sessions while one saw mild correction.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 124.44 points or 2.14 percent to settle the week at 5,950 points.
According to EBL Securities, throughout the week investors kept their hopes as the market went through a positive vibe.
The total turnover stood at BDT 48.28 billion last week against BDT 52.71 billion in the week before.
The daily turnover averaged BDT 9.65 billion, registering a decline of 8.42 percent over the previous week’s average of BDT 10.54 billion.
International Leasing Securities said investors’ concentration was remained on the banking sector issues expecting better return which helped the benchmark index to cross 5,950 points level after February 18, 2018.
Two other indices followed the suit. The DS30 index, comprising blue chips, rose 39.52 points to finish at 2,049 and the DSE Shariah Index soared 11.81 points to close at 1,321.
The banking sector posted the highest gained of 5.90 percent, followed by telecommunication sector also gained 5.68 percent, followed by mutual fund with 2.92 percent, power 2.40 percent and financial institutions 0.82 percent.
On the other hand, engineering, food and pharmaceuticals sectors lost 1.78 per cent, 0.88 per cent and 0.02 per cent respectively.
Gainers outpaced losers as out of 348 issues traded, 196 advanced, 136 declined and 16 issues remained unchanged on the DSE floor.
Premier Bank dominated the turnover chart, with 115.17 million shares worth BDT 1.86 billion changing hands.
Sonar Bangla Insurance was the week’s best performer, posting a gain of 45.19 percent while Northern Jute Manufacturing was the week’s biggest loser, shedding 18.86 percent.
The port city bourse, Chittagong Stock Exchange (CSE), also kept gaining, with its CSE All Share Price Index — CASPI – rising 407 points or 2.28 per cent to settle at 18,265 and the Selective Categories Index — CSCX –soaring 246 points or 2.27 per cent to finish at 11,036.