Dhaka, Bangladesh (BBN)– The first week of the New Year ended higher that ended on Thursday as enthusiastic investors continued their buying appetite on large-cap stocks.
Brokers said the market maintained the positive upturn largely supported by fuel & power sector stocks along with a few selective manufacturing stocks from textile and engineering sectors.
The week featured four trading sessions as the market closed Sunday due to Bank Holiday. Of them, first three sessions closed higher while last one faced marginal correction.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 58.32 points or 0.93 per cent to finish at 6,303.
The two other indices also ended higher. The DSE 30 Index comprising blue chips advanced 12 points or 0.53 percent to settle at 2,295 points.
The DSE Shariah Index (DSES) also rose 17 points or 1.22 percent to close at 1,407 points.
The port city bourse Chittagong Stock Exchange (CSE) also ended higher with CSE All Share Price Index — (CAPSI) – advancing 227 points or 1.18 per cent to finish at 19,495 points.
The Selective Categories Index of the port city bourse — CSCX, also gained 133 points or 1.14 percent to close at 11,782 points.
LankaBangla Securities said, “Index return was largely powered by fuel and power sector stocks along with a few select manufacturing stocks from textile and engineering sectors”.
The stockbroker noted that the index had recovered from four week correction phase last week and the recovery has continued, but overall turnover levels are yet to return to last year’s average.
The gainers took a strong lead over the losers as out of 339 issues traded, 231 closed higher, 85 closed lower and 23 issues remained unchanged on the DSE trading floor.
United Power Generation & Distribution Company topped the week’s turnover chart with 6.51 million shares worth BDT 1.24 billion changing hands, followed by Dragon Sweater with BDT 679 million, Lafarge Surma Cement BDT 604 million, Paramount Textile BDT 483 million and Islami Bank BDT 436 million.
Dragon Sweater was the week’s best performer, posting a gain of 22.81 percent while Alif Industries was the week’s worst loser, slumping by 15.80 percent.