Dhaka, Bangladesh (BBN) - Dhaka stocks continued bull-run for the second consecutive week last week with improving turnover value significantly as the investors went for a buying spree amid optimism.
Total turnover value stood at BDT 55.9 billion, which was 37.4 per cent higher than last week's BDT 40.7 billion, while average daily turnover stood at BDT 11.2 billion compared to previous week's BDT 8.1 billion.
Last week's daily average turnover value was almost three times higher than the daily average for this year, which was BDT 4.2 billion.
The week witnessed five trading sessions as usual. Among those, three sessions gained heavily while two sessions lost marginally.
Week-on-week, benchmark general index of the Dhaka Stock Exchange (DGEN), went up by 247.41 points or 5.58 percent to closed at 4,678.92.
The broader All Shares Price Index (DSI) soared 214.90 points or 5.74 percent to 3,960.76 points. The DSE-20 Index comprising blue chips gained 253.97 points or 7.50 percent to close at 3,640.94 points.
"The market closed higher for the second consecutive week anticipating positive settlement of Padma Bridge funding issue by World Bank," commented LankaBangla Securities in its weekly market analysis.
"Moreover, apparent liquidity in the money market increased the participation of institutional investors, which eventually increased the market activities significantly during the whole week," it said.
Furthermore, economic indicators were relatively stable throughout the week and the market rallied mostly relying on banks, cements and mutual funds, it added.
The heavily weight banking sector, financial and mutual fund sectors rallied sharply leading to the index and turnover higher in the week, he added.
Most of the sectors saw hefty gain in the week. Banking sector was the highest gainer, registering a rise of 17.09 percent, among the major sectors, while non-banking financial institutions (NBFIs) gained 5.53 percent. Telecommunications and pharmaceuticals sectors also gained more than 2.0 percent each while fuel and power lost 3.50 percent.
The highest gainer was the Mutual Fund. The sector gained 19.52 percent in the week. All the companies in the top 10 gainer's list for the week belonged to the
Grameen One Mutual Fund witnessed the highest gain of 60.06 percent in the week. Cement sector also gained more than 10 per cent.
Out of 281 issues traded, 203 advanced, 76 declined and two remained unchanged in the week.
The market capitalization of the DSE increased 4.39 percent in the week. It was BDT 2,475.67 billion on the opening day of the week and at the end of the week it stood at BDT 2,584.94 billion.
Three companies---Hakkani Pulp and Paper, Janata Insurance and Unique Hotel and Resorts made corporate declaration during the week.
Titas Gas continued to top the week's turnover chart with shares worth BDT 2.84 billion changed hands during the week, followed by United Airways, RN Spinning, BSCCL, Unique Hotel and Resorts, MI Cement, Saiham Cotton Mills, Keya Cosmetics, BSRM Steels and Beximco Limited.
Grameen One Mutual Fund was the week's highest gainer posting a rise of 60.06 percent, followed by Prime Finance First MF, Grameen Two MF, PHP First MF, DBH First MF, IFIL Islamic MF, Phoenix Finance First MF, ICB AMCL Third NRB MF, First Janata Bank MF, AIBL First Islamic MF.
The week's worst losers included GPH Ispat, Eastern Housing, Northern General Insurance, Navana CNG, Hakkani Pulp and Paper, GBB Power, RAK Ceramic, Delta Brac Housing, BD Thai Aluminium and Titas Gas.
BBN/SSR/AD-22Sept12-5:10 pm (BST)
