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Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to higher last week that ended on backed by some large-cap stocks price surged.
Brokers said the market rebounded as investors showed their buying interest on selective sector specific large—cap shares.
The week witnessed five trading sessions as usual. Of them, two sessions closed higher while three faced price corrections.
The benchmark index of the Dhaka Stock Exchange (DSE) finished the week at 5,736, advancing nearly 17 points or 0.29 per cent over the week before.
The two other indices also finished higher.
The DS30 index, comprising blue chips, advanced 43.44 points or 2.08 percent to finish at 2,134.20.
The DSE Shariah Index rose 8.99 points or 0.69 per cent to close at 1,313 points.
The port city bourse, Chittagong Stock Exchange (CSE), also edged higher with its Selective Categories Index, CSCX, advancing 33 points or 0.31 per cent to close at 10,787.
The total turnover for the week stood at BDT 48 billion, which was nearly 29 per cent higher than the previous week’s more than BDT 37 billion as last week saw five trading sessions instead of previous week’s four.
The daily turnover averaged at BDT 9.59 billion, which was nearly 3.0 per cent higher than the previous week’s average of BDT 9.31 billion.
“Stocks witnessed marginal gain last week as the investors went their buying spree on large-cap stocks,” said International Leasing Securities.
The stockbroker noted that the index fought back as large-cap stocks like GP, Square Pharma and Lafarge Surma Cement took the lead from the second session, but faced profit taking on last two sessions which shredded the gain of previous two gaining sessions.
Out of 332 issues traded, 178 closed lower, 135 closed higher and 19 remained unchanged on the DSE trading floor.
City Bank dominated the week’s turnover chart for the third week in a row with shares of BDT 2.59 billion changing hands, followed by LankaBangla Finance, Beximco, IDLC Finance and Beximco Pharmaceuticals.
Regent Textile Mills was the week’s highest gainer, posting a 21.43 per cent gain, while Islami Bank was the worst loser, slumping by 15.10 per cent following its poor dividend declaration.