Dse Weekly Review
Stocks gain for 3rd week as optimism returns
Dhaka stocks advanced last week, third week in a row, pushing the bourse’s key index to a fresh high since its inception as investors became active amid easing of political tensions.
Market operators said turnover at the Dhaka Stock Exchange also increased as investors were anticipating further rise in the share prices and expecting a relaxed monetary policy from the central bank. Bangladesh Bank will announce its monetary policy for January-June period this month.
DSE benchmark general index, DSEX, increased by 2.53 per cent, or 111.53 points, to close at 4,519.36 points on Thursday, last trading day of the week.
The bourse’s key index was launch at 4,090.47 points on January 28 last year.
DS30, the blue-chip index of the bourse, finished at 1,592.78 points, adding 2.39 per cent or 37.18 points.
Market operators said easing of political confrontation after the 10th parliamentary elections boosted the investors’ confidence.
Investors are expecting more policy support from the government after the Bangladesh Bank’s move which allowed banks another year to adjust their single borrower exposure to the capital market, they said.
Investors are also anticipating another bubble after the Awami League-led alliance formed government for a fresh term, they said.
The DSEX and the DS30 gained 318 points and 144 points respectively in the last three weeks.
Daily average turnover of the DSE increased to Tk 651.69 crore from Tk 457.26 crore in the previous week.
Of the 298 shares and mutual funds traded, 276 advanced, 72 declined and 10 remained unchanged.
‘Starting with a robust mode, DSEX broke its historical high level during first trading session of the week,’ IDLC Investments said in its weekly market commentary.
It said, ‘Upcoming corporate declarations and monetary policy statement generated scrip and sector specific trading motivations.’
Cement sector gained the most in the week with a 6.61-per cent increase in share prices, followed by the non-banking financial institutions sector with a 5.36-per cent rise.
Telecommunication and textile sectors lost 1.26 per cent and 0.42 per cent respectively last week.
Appollo Ispat led the turnover leaders in the week with its shares worth Tk 104.90 crore changing hands.
Bengal Windsor Thermoplastics, Olympic Industries, Golden Son, Square Pharma, Summit Purbanchol Power Company, LankaBangla Finance, United Commercial Bank, Delta Life Insurance, Active Fine Chemicals were among the other turnover leaders.
Pragati Life Insurance gained the most last week with a 28.67-per cent increase in its share price, while Aramit Cement lost the most, shedding 30.71 per cent.
-With New Age input
