Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their winning spell for the three consecutive weeks that ended on Thursday as investors continued their buying appetite on large-cap stocks amid optimism.
Dealers said the market kept the gaining momentum as investors’ enthusiasm sustained on bank issues following their healthy quarterly earnings declaration.
The week witnessed five trading sessions as usual. Of them, the key index of the prime bourse accumulated gain of 44.83 points in three sessions while remaining two sessions eroded 47 points.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, went up by 21.36 points or 0.36 percent to settle at 5,902 points.
The two other indices stayed positive trend. The DS30 index and the DSE advanced 2.60 points or 0.12 percent to settle at 2,126 points.
The Shariah Index (DSES) gained 2.91 points or 0.22 percent to finish at 1,315 points.
The port city bourse, Chittagong Stock Exchange (CSE), also finished higher with its Selective Categories Index, CSCX, advancing 50 points or 0.45 percent to settle at 11,063 points.
The total turnover for the week fell to BDT 48.79 billion on premier bourse which was BDT 53.22 billion in the week before.
The daily turnover averaged at BDT 9.75 billion, which was nearly 8.31 percent lower than the previous week’s average of BDT 10.64 billion.
The International Leasing Securities noted that investors’ concentration on the bank sector stocks following their positive earnings declaration led the prime index of Dhaka bourse to its historical high of 5,913.59 points in the week since inception of the prime index four-and-a-half-year back by replacing the DGEN on January 27, 2013.
The list of turnover leaders continued to be dominated by the bank sector stock and grabbed 29 percent of the week’s total turnover and posted the 1.51 per cent gain in the week while the top gainer and looser list comprised mostly of small-cap stocks. Large-cap sectors showed mixed performances during the week, the stockbroker said.
Engineering sector posted the highest gain of 2.40 percent, followed by bank 1.51 percent, telecommunication 1.44 percent, and fuel & power 0.06 per cent.
Food & allied witnessed the highest correction of 0.82 percent, followed by pharmaceuticals 0.15 percent and NBFIs 0.10 percent.
The losers beat gainers as 334 issues trading on DSE during the week, 185 declined, 129 advanced and 20 remained unchanged.
C&A Textile topped the week’s turnover chart with 136.56 million shares of BDT 1.88 billion changing hands, closely followed by BBS Cables BDT 1.68 million, IFIC Bank BDT 1.66 million, City BDT 1.44 million, and IFAD Autos BDT 1.43 million.
The recently listed BBS Cables was the week’s highest gainer, posting 29.89 percent gain, while Information Services Network was the worst loser, losing 14.29 percent.