Dhaka, Bangladesh (BBN)– Bangladesh’s stocks return to green last week that ended on Thursday, after facing mild correction in the week before, as the bargain hunters took position on sector specific stocks amid optimism.
The week witnessed four trading sessions instead five as the market was closed on Monday due to National Mourning Day. Of them, first three sessions posted marginal gain, while last one saw mild correction.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 10.72 points or 0.23 percent to finish the week at 4,585.08 points over the previous week.
However, the two other indices ended in the red territory. The DS30 index, comprising blue chips, fell sharply by 15.09 points or 0.85 percent to settle at 1765.93 points.
The DSE Shariah Index also lost 1.97 points or 0.18 percent to close at 1,121.50 points.
The port city bourse Chittagong Stock Exchange (CSE) also finished slightly higher with its Selective Categories Index, CSCX, advancing 21.64 points or 0.25 percent to close at 8,583.73 points.
The week’s total turnover came down to BDT 17.77 billion, which was 23.34 percent lower than the previous week’s BDT 23.18 billion in the week before as last week saw four trading sessions instead of previous week’s five.
The daily turnover averaged BDT 4.44 billion, registering a decline of 4.18 percent over the previous week’s average of BDT 4.64 billion.
LankaBangla Securities, a stockbroker, said: “Despite slight increase in the benchmark during the first three trading sessions of the week, benchmark index DSEX corrected by 10 points in last session of the week”.
The stockbroker noted that many of the market cap leaders did not generate any return whereas top gainers of the week were mostly junk shares.
The gainers took a modest lead over the losers as out of 328 issues traded, 161 closed higher, 135 closed lower and 32 remained unchanged on the DSE trading floor last the week.
National Tubes dominated the week’s turnover chart with shares worth BDT 452 million changing hands, followed by MJL Bangladesh, Aman Feed, Bangladesh Steel Re-rolling Mills and Shahjibazar Power Company.
Stylecraft was the week’s best performer, posting a gain of 27.30 percent, while Meghna Pet was the worst loser, slumping by 32.26 percent.