Dse Weekly Review
Dhaka stocks gain for sixth week as investors remain positive about prospect
Dhaka stocks sustained upbeat vibe in last week, the sixth week in a row, riding on investors’ mounting confidence and increased fund flow to the market.
The key index of Dhaka Stock Exchange, DSEX, gained 4.19 per cent or 210.79 points over the week to close at 5,237.72 points on Thursday, the last trading session before a nine-day closure for Eid-ul-Azha, Durga Puja and weekly holidays.
The DSEX gained 690 points in the last six weeks.
The daily average turnover at the bourse, however, declined to Tk 959.56 crore in last week compared with that of Tk 1,005.22 crore in the previous week.
Investors remained positive as they were sensing that the BNP-led alliance might not declare any tough political programme after the Eid that could hamper the investors’ growing confidence, market operators said.
They also said that investors were also expecting the market would rise further depending on increased fund injection at the market and upgraded GDP growth projection by two major development partners of the country.
Riding on investors’ mounting confidence, almost all the sector ended positive in last week, they said.
A recent drop in bank deposit rate might have diverted funds to the capital market from the banking sector, operators said.
DS30, the blue-chip index of the bourse, increased by 2.23 per cent, or 43.53 points, to close at 1,993.17 points.
The Shariah index of the bourse, DSES, rose by 3.18 per cent, or 37.57 points, to stand at 1,219.25 points.
Of the 312 shares and mutual funds traded last week, 245 advanced, 60 declined and seven remained unchanged.
‘Hope for further upswing and expectation of grabbing better return continued fuelling optimism across the market,’ IDLC Investments said in its weekly market commentary.
Although investors neutralised short-term return, buying binge was strong across the market, it said.
‘Additionally, investors’ continued search for lucrative scrips intended market to remain volatile throughout the week,’ said IDLC.
Titas Gas topped the turnover leaders with its shares worth Tk 238.03 crore changing hands.
Grameenphone, MJL Bangladesh, Square Pharmaceuticals, Jamuna Oil, Delta Life Insurance, Beximco, Beximco Pharma, Olympic Industries and Padma Oil were among the other turnover leaders.
Popular Life gained the most in the week with a 39.28-per cent rise in its share price, while Bangas was the worst loser of the week, shedding 23.64 per cent.
-With New Age input
