Dhaka, Bangladesh (BBN)– Stocks inched higher for the two consecutive weeks that ended on Thursday as most of the investor remained followed cautious stance profit booking tendency.
The benchmark index of the Dhaka Stock Exchange (DSE) edged higher by 6.32 points or 0.14 percent to settle at 4,587.67 points.
The DS30 index, comprising blue chips, advanced 6.63 points or 0.38 percent to finish at 1,766.22 points.
The DSE Shariah Index gained 6.54 points or 0.58 percent to close at 1,125.40 points.
The port city bourse Chittagong Stock Exchange (CSE) also saw marginal gain with its Selective Categories Index, CSCX, advancing 19.76 points or 0.23 percent to end at 8,609.86.
The total turnover for the week stood at BDT 22.46 billion against BDT 18.63 billion in the week before.
The daily turnover averaged BDT 4.49 billion, which was 20.5 per cent higher than the previous week’s average of BDT 3.73 billion.
“Cautious investment mindset made the investors followed passive strategy and look for profit opportunities amid surging volatility in the market,” said IDLC Investments, in its weekly stock market analysis.
LankaBangla Securities, said:“Through its flat movement again last week, market is still indicating to remain in the consolidation phase with a base around 4,580-mark”.
The losers took a strong lead over the gainers as out of 330 issues traded, 202 closed lower, 99 higher and 29 issues remained unchanged on the DSE trading floor during the week.
Bangladesh Steel Re-rolling Mills dominated the week’s turnover chart with 9.42 million shares worth BDT 1.55 billion changing hands followed by United Power Generation & Distribution Company BDT 1.21 billion, Beximco Pharma BDT 872 million, Square Pharma BDT 695 million and IFAD Autos BDT 647 million.
Prime Islami Life Insurance was the week’s best performer, posting a rise of 21.85 percent while Libra Infusion was the week’s worst loser, plunging by 17.91 percent.