Dhaka stocks advanced last week, third week in a row, as investors focused on heavyweight companies. Some profit-taking share sales were also observed in the first two trading sessions of the week, said market operators. The key index of Dhaka Stock Exchange, DSEX, finished at 4,675.92 points, adding 0.72 per cent or 33.54 points in the week. Investors’ optimism continued to grow as the gaining streak of the market continued for the third week, market operators said.
They said increase in the prices of some large capitalised companies’ shares played a role behind the positive ending of the week despite decline in share prices of most of the traded stocks.
A recent decline in bank deposit rate to around 9 per cent from 13 per cent might have diverted funds to the capital market from the banking sector, they said.
DS30, the blue-chip index of the DSE, rose by 1.61 per cent, or 28.33 points, to reach its all-time high at 1,768.58 points since its launch on January 28 last year with 1,460.30 points.
The Shariah index of the bourse, DSES, finished at 1,101.32 points, increasing by 1.14 per cent or 12.39 points.
The daily average turnover of the premier bourse increased to Tk 573.35 crore last week compared with that of Tk 540.02 crore in the previous week.
Of the 307 shares and mutual funds traded in the week, 119 advanced, 172 declined and 16 remained unchanged.
‘Strong dominance of multinational companies primarily due to dividend expectation noted this [last] week’s trading pattern,’ IDLC Investments said in its weekly market commentary.
‘Besides, the changing preferences to micro capitalised stocks along with selective large capitalised stocks, especially blue-chip stocks, assisted investors’ growing interest in the market,’ it said.
MJL Bangladesh topped the turnover leaders with its shares worth Tk 122.60 crore changing hands.
ACI Formulations gained the most with a 60.80-per cent increase in its share price.
-With New Age input
