Dhaka, Bangladesh (BBN)– Dhaka stocks continued to rise for the two straight weeks that ended on Thursday with significant improving turnover value as optimism grew among the investors about the new leadership of the country’s premier bourse.
Market analysts said the investors are optimistic about the prospects of market revival under the new leadership which encouraged them to take fresh position in the market.
The week witnessed five trading sessions as usual. Among four sessions gained while one session lost marginally amid profit taking.
In the week, the DSE General Index (DGEN), the yardstick of the market went up by 215.69 points or 4.75 percent to close at 4,759.14.
The turnover value steadily increased in the first three sessions of the week but went down in the last two sessions. On Tuesday, the turnover value recorded BDT 5.75 billion which was highest value more than two months.
Total turnover value for the week stood at BDT 23.83 billion which was BDT 12.78 billion in the previous week. This was also the highest weekly total turnover value of this year.
Average daily turnover value of the week stood at BDT 4.76 billion which was 86.4 per cent higher than the previous week’s daily average turnover of BDT 2.55 billion.
Out of 269 issues traded during the week, 235 advanced, 27 declined and seven remained unchanged.
All the sectors closed higher on the week, except Jute sector which lost 1.27 per cent.
Among the major sectors telecommunications was the big movers which gained 9.02 percent followed by fuel and power and Power 8.10 percent, cement 7.72 percent, non-banking financial institutions (NBFIs) 6.23 percent and general insurance 6.26 percent also gained big while banks gained 3.82 percent during the week.
Companies continued to announce their corporate declarations for the year ended December 31, 2011.
Seven companies—BD Lamps, City Bank, Islamic Finance, National Housing Finance, Premier Bank, Reliance Insurance and UCBL made their corporate declaration during the week.
Beximco Limited topped the week’s turnover chart with shares worth BDT 1.20 billion changing hands.
Apex Tannery was the week’s top gainer posting a rise of 23.47 percent while Central Insurance.
BBN/BB/SI-23Mar12-4:10 pm (BST)