Dhaka, Bangladesh (BBN)– Bangladesh’s stocks edged up last week that ended on Thursday, after remaining down in the past two straight week, as investors showed their buying appetite on large-cap banks issues.
Brokers said corporate declarations continued to stimulate investors to take sector and scrip-wise moves, helping the market to close positive zone.
The week witnessed five trading sessions as usual. Of them, first two sessions closed lower while last three closed higher.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 12.76 points or 0.23 percent to settle the week at 5,534.42 points.
The DSE Shariah Index advanced 1.70 points or 0.13 percent to close at 1,274 points.
However, the DS30 index, comprising blue chips, fell 15.72 points or 0.77 percent to finish at 2,035 points.
The port city bourse, Chittagong Stock Exchange (CSE), also edged higher with its Selective Categories Index, CSCX, advancing 39 points or 0.37 percent to close at 10,407.
The total turnover for the week came down to BDT 28.83 billion against BDT 34.32 billion the week. The daily turnover averaged at BDT 5.76 billion, which was 16 percent lower than the previous week’s average of BDT 6.86 billion.
International Leasing Securities said the market bounced back to the green from its bearish trend as the enthusiastic investors were active on sectors-specific large-cap stocks.
The stockbroker noted that the proposal of the securities’ regulator and the merchant bankers to review the calculation of banks’ exposure to facilitate higher institutional investment in stock market also prompted the investors to remain active in the last three sessions of the week.
Out of 333 issues traded, 172 closed lower, 130 closed higher and 28 remained unchanged on the DSE trading floor.
LankaBangla Finance dominated the week’s turnover chart for the fourth straight week with shares of BDT 2.02 billion changing hands, followed by United Power, Prime Bank, Beximco and Ratanpur Steel Re-rolling Mills.
Prime Insurance Company was the week’s biggest gainer, posting a 29 percent gain, while FAS Finance and Investment was the worst loser, slumping by 11.18 percent.