Dhaka, Bangladesh (BBN)- Bangladesh’s stocks stayed upbeat for the two consecutive weeks that ended on Thursday with high turnover value as investors took position on large-cap stocks amid optimism.
Brokers said the opportunity seeker investors showed their buying interest riding on the hopes of revival of stocks prices.
The week witnessed five trading sessions as usual. Of them, four sessions closed higher while one saw mild correction.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 78.20 points or 1.42 percent to settle the week at 5,590.67 points.
LankaBangla Securities said: “The key index gained around over 78 points with increased turnover value showing increased investors’ confidence to the market”.
The two other indices also ended higher. The DS30 index, comprising blue chips, advanced 25.32 points or 1.26 percent to finish at 2,027.68 points.
The DSE Shariah Index rose 21.22 points or 1.65 per cent to close at 1,306.15 points.
The total turnover for the week stood at BDT 53.50 billion on the DSE which was BDT 45.12 billion in the week before.
The daily turnover averaged at BDT 10.70 billion, registering an increase of 45 percent over the previous week’s average of BDT 7.37 billion.
EBL Securities, a stockbroker, said: “The market witnessed both selling spree and position taking on sector specific issues, resembled through higher market turnover”.
The port city bourse, Chittagong Stock Exchange (CSE), also closed higher for the second week with its Selective Categories Index, CSCX, advancing 159 points or 1.54 percent to close at 10,489 points.
Out of 332 issues traded, 186 closed higher, 126 closed lower and 20 remained unchanged on the DSE trading floor.
LankaBangla Finance dominated the week’s turnover chart for the second week in a row with 49.56 million shares of BDT 2.62 billion changing hands, followed by Baraka Power, Appollo Ispat Complex, IDLC Finance and Central Pharmaceuticals.
Malek Spinning Mills was the week’s best performer, posting a 21.28 percent gain, while SEML Lecture Equity Management Fund was the worst loser, slumping by 8.08 per cent.
BBN/SSR/SR