Dhaka, Bangladesh (BBN)- Bangladesh’s stocks returned to the green after previous week’s major correction as some positive news in macroeconomic front lured witty participants to take position.
The week featured all five trading sessions as usual. Among them, the market closed positive three sessions while two sessions ended in red.
Week-on-week, DSEX, the prime index of Dhaka Stock Exchange (DSE) edged up by 29.06 points or 0.67 percent to close at 4,392.15 points.
The DSE Shariah Index (DSES) went up by 1.98 points or 0.20 percent to close at 998.88 points. However, the DS30, comprising blue chips closed red with losing 1.46 points or 0.09 percent to close at 1,602.93 points.
The port city bourse, the Chittagong Stock Exchange (CSE), however, closed at break-even points, with its Selective Categories Index – CSCX— lost only 0.13 points to close the week at 8,326.99 points.
The total turnover stood at BDT 10.39 billion which was BDT 9.60 billion in the previous week.
The daily turnover for the week averaged BDT 2.07 billion, registering an increase of 8.21 per cent over the previous week’s average of BDT 1.92 billion.
“Dynamic trading pattern, consisting of cashing out over Eid-ul-Fitr and lucrative positioning for spread search in frequent interval remained persistent in market mechanism,” commented IDLC Investments, in its weekly market analysis.
LankaBangla Securities, said in its weekly analysis that the market is eyeing on second quarter net profit figures of corporate entities which will appear on the screen soon.
Losers outpaced gainers as out of 305 issues traded during the week, 147 declined, 120 advanced and 38 remained unchanged on DSE floor.
A new issue – Shajibazar Power Company commenced trading at DSE on Tuesday and gained 46 percent from its IPO price of BDT 25 in its debut trading day.
Beximco Limited dominated the week’s top turnover chart for the third straight week with shares worth BDT 1.18 billion changing hands during the week followed by GP, Square Pharma, Shahjibazar Power and Lafarge Surma Cement.
Beximco Limited was also topped the week’s gainers chart, posting a rise of 119.73 percent while Sandhani Life Insurance was the week’s worst loser, slumping by 25.19 percent.
BBN/SSR/AD-18July14-8:11 pm (BST)