Dhaka, Bangladesh (BBN) – the Dhaka Stock Exchange General Index (DGEN) rose moderately over the week, with a record volume trading of BDT 22.82 billon on Wednesday.
Investor confidence was boosted earlier in the week by positive comments from the finance minister in further developing the capital market in Bangladesh, and allowing conversion of shares’ face value from BD 100 to BDT 10.
The BSE Sensex also mirrored most financial markets, and rose through the week on the back of decreasing concerns about global financial contagion from the European debt crisis by the end of the week.
US stocks rose slightly in the last week, from weekly lows on Friday, on news of a bailout package to help European fiscal debt. The Dow Jones Industrial Average started the week at 10,868.12 points, but dropped down to 10,301.61 the same day. At close of Wednesday, the index regained to 10,896.91 points.
The Nasdaq Composite Index started the week at 2,402.29 points and dropped on Friday’s trade at 2,244.31 points.
However, it also regained through the week as news about European bailout plans diminished the threat of financial contagion spreading. The index closed at 2,425.02 points on Wednesday.
Japan’s Nikkei Index fell to 10,620.19 points on Friday trading on the back of global worries on financial contagion spreading from European debt.
However, it rose through the week by 2.18 percent to a one-week closing high on Thursday after the European bailout plan, and Spain outlined measures to cut its deficit, easing fears the Greek debt crisis could spread in Europe.
BBN/SS/SI/AD-15May10-9:20 pm (BST)