Dhaka stocks advanced last week, six weeks in a row, with the DSE’s key index hitting another fresh high of 4,845.09 points since its launch as investors continued to inject fresh funds, anticipating further rise in share prices amid increased foreign investments. The key index of the bourse, DSEX, increased by 1.93 per cent, or 91.92 points, in the week to close at 4,845.09 points, highest after its launch with 4,055.90 points on January 28 last year.
DS30, the blue-chip index of the bourse, gained 1.30 per cent, or 21.56 points, to close at 1,681.91 points.
Market operators said injection of fresh funds from various sources continued to push the market up like the previous five weeks as investors were expecting further rise in share prices after the formation of government by Awami League-led alliance for a fresh term.
In 2009-2010, DGEN, the old benchmark general index of the DSE, increased abnormally. The same thing happened in 1996. On both occasions, the bubble burst.
In the last six weeks, the DSEX and DS30 advanced by 644.12 points and 233.97 points respectively.
Shariah index of the DSE, DSES, finished at 996.36 points, adding 2.27 per cent or 22.09 points last week.
Daily average turnover of the bourse increased to Tk 732.91 crore which was Tk 721.84 crore in the previous week.
Of the 298 shares and mutual funds traded, 149 advanced, 138 declined and 11 remained unchanged.
‘Post elections bullish vibes continued this [last] week as well, finding stimulus from quarterly earning declarations,’ IDLC investments said in its weekly market commentary.
It said, ‘Earning declarations played strong role in pricing of securities.’
Mixed earnings came as surprise in perspective of extreme political turmoil in last few months of 2013, it said.
‘A little stir in the political arena coupled with natural selling pressure held back investors in the mid week. However, selling pressure was consumed by adequate number of buyers in the market, disallowing any significant shed off,’ IDLC said.
Food and allied sector gained the most — 6.85 per cent and pharmaceuticals gained 6.23 per cent last week, while textile and engineering sectors lost 1.73 and 1.55 per cent respectively.
Meghna Petroleum led the turnover leaders in the week as its shares worth Tk 137.58 crore changing hands.
Square Pharma, Jamuna Oil, Mercantile Bank, United Airways (BD), Olympic Industries, Grameenphone, Bangladesh Submarine Cable Company, LankaBangla Finance and United Commercial Bank were among the other top turnover leaders.
Al-Haj Textile gained the most with an 18.37-per cent increase in its share price, while GSP Finance Company lost the most, shedding 17.13 per cent.
-With New Age input
