Dhaka, Bangladesh (BBN) – Dhaka stocks returned a bullish trend in the last week with increased turnover, breaking three straight weeks of bearish spell, market operators said.
Consecutive regulatory measures, like – banning sponsor share sale, withdrawing mutual funds’ sectoral investment restriction, and the central bank’s extension of timeframe for adjusting merchant banks’ single borrower exposure limit, enhanced the investors’ confidence to some extent, they added.
During the week, the DGEN, the benchmark index of the DSE, went up by 257.88 points or 4.56 percent to close at 5,910.20.
The broader All Shares Price Index (DSI) rose 217.57 points or 4.60 percent to close at 4,944.96. The DSE-20 Index, comprising blue-chip shares, also gained 146.85 points or 3.73 percent to close at 4,080.05.
The total turnover value of the week increased to BDT 20.91 billion, against BDT 17.38 billion in the previous week. The average daily turnover value stood at BDT 4.18 billion, up by 20.32 per cent compared to BDT 3.47 billion in the previous week.
However, a market insider said the market still continued to experience severe liquidity crisis, as the average trade volume remained below BDT 4.50 billion.
Out of the 266 issues traded, 248 advanced, only 16 declined, while two remained unchanged during the week.
Lafarge Surma Cement topped the week’s turnover list with shares worth Tk 1.07 billion changing hands. The other turnover leaders were Beximco Limited, Beximco Pharma, Summit Power, Malek Spinning, Titas Gas, Grameenphone, MI Cement, LankaBangla Finance and CMC Kamal.
Bangas was the week’s highest gainer, posting a rise of 24.12 per cent. It was followed by Chittagong Vegetable, Ocean Container Limited, Meghna Life Insurance, Sandhani Life Insurance, Pharma Aids, Gemini Sea Food, Monno Stafflers, Summit Alliance Port, and Quasem Drycells.
The week’s worst losers included ICB, Bank Asia, Desh Garments, First Bangladesh Shilpa Rin Sangstha Mutual Fund, Grameen Mutual Fund One, Savar Refractories, First ICB Mutual Fund, First Janata Bank Mutual Fund, AIBL First Islamic Mutual Fund and Reliance One Mutual Fund.
BBN/SSR/AD-01Oct11-1:54 am (BST)
