Dhaka, Bangladesh (BBN)-Bangladesh’s stocks closed higher last week that ended on Thursday with increasing turnover as investors went for buying spree with additional funds.
The week featured four trading sessions instead of five as trading remained closed on July 1 due to ‘Exchange Holiday’.
Among the sessions, the market closed higher first three sessions while last one saw marginal correction.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), crossed the 4,500-mark and ended the week at 4,572.59 points, gaining 117.30 points or 2.63 percent.
The DS30 index, comprising blue chips, rose 57.25 points or 3.34 percent to settle at 1,772.91 points.
The DSE Shariah Index gained 28.73 points or 2.63 percent to finish at 1,121.05 points.
The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index – CSCX – gained 227 points or 2.72 percent to end the week at 8,576.66 points.
The total turnover for the week stood at BDT 18.85 billion against BDT 18.42 billion in the week before despite last week saw four trading sessions instead of previous week’s five.
The daily turnover for the week averaged BDT 4.71 billion, registering an increase of 28 percent over the previous week’s averaged BDT 3.68 billion.
“The last week of outgoing fiscal year went on with a robust upswing in the market as tax incentive seeking investors pumped up the market with additional fund,” said IDLC Investments, a merchant bank, in its weekly analysis.
“The country’s capital market exhibited positive trend last week along with lively participation from the investors,” said International Leasing Securities, a stock broker, in its weekly analysis.
The gainers took a strong lead over the losers as out of 325 issues traded, 229 advanced, 72 declined and 24 remained unchanged on the DSE trading floor.
Olympic Accessories, which made trading debut on June 25, was the week’s top turnover leader with shares worth BDT 711.78 million changing hands during the week followed by Beximco Pharma, Lafarge Surma Cement, Square Pharma and GP.
Olympic Accessories was also the week’s best performer, posting a rise of 33.68 percent while BIFC was the week’s worst loser, plunging by 27.87 percent.