Dhaka, Bangladesh (BBN)-Bangladesh’s stocks posted modest gains last week that ended on Thursday as investors went for buying spree on banks, NBFIs and power issues.
The week featured all five trading sessions and first session suffered marginal loss while last four closed positive.
Week-on-week, DSEX, the prime index of Dhaka Stock Exchange (DSE), went up by 81.02 points or 1.87 percent and crossed the ‘psychotically’ threshold of 4,400 points to close at 4,409.43 points.
The other two indices also closed positive.
The DS30, comprising blue chips moved up by 13.161 points or 0.82 percent to close at 1,616.57 points.
The DSE Shariah Index (DSES) gained 13.25 points or 1.13 percent to close at 1,006.22 points.
The port city bourse, the Chittagong Stock Exchange (CSE), also saw rise last week with its Selective Categories Index – CSCX – gained 136.49 points or 1.65 percent to close the week at 8,401.37 points.
The week’s total turnover stood at BDT 14.37 billion on the major bourse against BDT 13.97 billion in the previous week.
The daily turnover for the week averaged BDT 2.87 billion, registering an increase of 2.85 per cent over the previous week’s average BDT 2.79 billion.
LankaBangla Securities said, “Recent gains in the market can be called volatile. Only few fundamental stocks grasped the interest of investors”.
Market resilience remained weak owing edginess hovering around the aftermath of post-budget economic condition on capital market, said the stock broker.
“Substantial profit booking tendency reversed and subsequently turned into a motivation for investment in the last week,” commented IDLC Investments, in its weekly market analysis.
Out of 305 issues traded during the week, 210 advanced, 79 declined and 16 issues remained unchanged on the DSE floor.
Lafarge Surma Cement dominated the week’s top turnover chart with shares worth Tk 1.25 billion changing hands during the week followed by GP, BSRM Steels, Square Pharmaceuticals and BSCCL.
AIBL First Mutual Fund was the week’s top gainer, posting a rise of 18.03 percent while Delta Life Insurance was the week’s worst loser, slumping by 19.40 percent.
BBN/BB/ANS-27June14-6:00pm (BST)
