Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended the gaining streak for the six straight weeks with turnover remained buoyant as the investors took position on large-cap stocks.
The first week after prolonged 9-day Eid vacation featured five trading sessions as usual. Of them, three sessions saw mild correction while two sessions witnessed sharp gain.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up marginally by 48.12 points or 0.92 percent to close the week at 5,285.84 points.
The two other indices also closed positive. The DSE30 index gained 4.63 points or 0.23 percent to close at 1,997.79 points. The DSE Shariah Index rose 23.21 points or 1.90 percent to close at 1,242.46 points.
The port city bourse Chittagong Stock Exchange (CSE) also closed in positive last week with its Selective Categories Index-CSCX– went up by 130.4 points or 1.33 percent to close at 9,911.93 points.
Trading remained vibrant at the DSE and total turnover amounted to BDT 48.10 billion which was BDT 47.97 billion in a week before.
The daily turnover for the week averaged BDT 9.62 billion, registering an increase of 0.26 percent over the previous week’s average BDT 9.59 billion.
“Dynamic trading pattern, mostly focused on re-balancing portfolio kept market movement mixed, the first week after Eid vacation,” said IDLC Investments, in its weekly analysis.
The market activities remained buoyant with participants still hoping for further upswing amid improved economic phenomenon, said the merchant bank.
Gainers outpaced losers as out of 312 issues traded, 199 advanced, 107 declined 6 remained unchanged on DSE floor during the week.
Square Pharmaceuticals dominated the week’s top turnover chart with shares worth BDT 2.12 billion changing hands followed by MJL BD, GP, Titas Gas and Delta Life Insurance.
DESCO was the week’s top gainer, posting a rise of 21.82 percent while Fu-Wang Food was the week’s worst loser, slumping by 14.23 percent.
BBN/SSR/AD-17Oct14-11:20 pm (BST0
