Dhaka, Bangladesh (BBN) – The Dhaka stocks ended last week of the year with positive note that ended on Thursday and third consecutive gaining week with turnover increasing significantly as optimism grew among the investors ahead of beginning of the new year, market operators said.

The week witnessed four trading sessions as Sunday was public holiday on the occasion of Christmas Day. Among them two session lost and two session closed positive.
During the week, the general index of the Dhaka Stock Exchange, generally known as DGEN, surged marginally by 25.22 points or 0.48 percent to close at 5,257.61.
The broader All Shares Price Index (DSI) advanced 22.97 points or 0.53 percent to close at 4,383.94. The DSE-20 Index comprising blue-chip shares also gained 12.57 points or 0.32 percent to close at 3,910.33.
Total turnover value stood at BDT 18.7 billion in value term which was BDT 18.1 billion in the last week as this week saw one less trading session due to Christmas holiday on Sunday.
Daily average turnover value rose by 29.2 percent to stand at BDT 4.7 billion compared to last week’s value of BDT 3.6 billion though the year’s daily average turnover value was BDT 6.64 billion.
Most of the major sectors advanced this week except banks and fuel and power sector which declined by 0.19 percent and 1.27 percent respectively.
Among the other sectors, pharmaceuticals and general insurance closed flat while non-banking financial institutions (NBFIs) and telecommunications were up marginally by 0.76 percent and 0.43 percent respectively.
Investors become hopeful for stability of the market in coming year as sponsor/directors continued their declaration to buy shares to comply with the regulator’s directive to hold minimum share, said a stock broker.
Moreover, market has shown strong resilience against the ongoing liquidity crisis as turnover increasing gradually, he added.
Meanwhile, during the week, five more sponsor/directors of listed companies expressed their willingness to buy shares to their respective companies at prevailing market price through Stock Exchange within next 30 working days.
With this, as many as 36 sponsor/directors expressed their willingness to buy shares to their respective companies to comply with the regulator’s latest directive to hold minimum 2.0 per cent stakes in their own firms.
Meanwhile, the Dhaka Stock Exchange (DSE) has finalized a concept paper for demutualization of the stock markets and submitted it to the ministry of finance on Thursday.
The Securities and Exchange Commission (SEC) also formed a committee this week to fix the definition of “free float” in order to implement a new benchmark index.
The market capitalization was BDT 2,603.57 billion on the opening day of the week, and at the end of the week it stood at BDT 2,616.73 billion, a 0.51 percent higher.
Mercantile Bank topped the week’s turnover chart with shares worth BDT 470.99 million changing hands during the week.
Renwick Jajneswar and Company was the week’s highest gainer posting a rise of 23.36 per cent as following its up gradation in ‘A’ category from ‘Z’ category this week.
The week’s worst loser was Staylecraft Limited.

BBN/BB/SI-30Dec11-9:31 pm (BST)