Dhaka, Bangladesh (BBN) – Bangladesh’s stocks bounced back to gaining streak last week that ended on Thursday after a single-week break as enthusiastic investors went on buying spree.
Brokers said the market rebounded having optimistic support of large-cap issues, especially from bank, telecommunication and non-bank financial institutions sectors.
The last week witnessed five trading sessions as usual. Of them, first session faced correction while last four closed higher.
Accordingly, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 84.47 points or 1.52 per cent to settle the week at 5,672 points over the previous week.
The two other indices also ended higher.
The DS30 index, comprising blue chips, advanced 28.60 points or 1.42 per cent to finish at 2,050 points.
The DSE Shariah Index rose 8.15 points or 0.62 percent to close at 1,312 points.
Trading activities remained encouraging as the total turnover for the week stood at BDT 53.71 billion on the DSE against BDT 53.58 billion in the week before.
The daily turnover averaged at BDT 10.74 billion, which was 0.23 per cent higher than the previous week’s average of BDT 10.72 billion.
“The market backed to the green after a single-week break as the enthusiastic investors were active on large-cap stocks,” said International Leasing Securities, in its weekly analysis.
The stockbroker noted that the market maintained the upbeat note riding on the news of 28 per cent rise in net foreign investment in February this year coupled with the finance minister’s observations that cheered the investors to take fresh position on stocks.
The losers, however, took a modest lead over the gainers as out of 333 issues traded, 152 closed lower, 147 closed higher and 34 remained unchanged on the DSE trading floor.
LankaBangla Finance dominated the DSE turnover chart for the two consecutive weeks with 37.36 million shares of BDT 2.43 billion changing hands, followed by Baraka Power, GPH Ispat, Islami Bank and Beximco.
Premier Leasing was the week’s highest gainer, posting a 20.78 percent gain, while Sub 25 per cent Coverable Bond of Brac Bank was the worst loser, slumping by 8.42 per cent.
The port city bourse, Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index, CSCX, advancing 161 points or 1.53 per cent to close at 10,653 points.