Turnover also increases amid lacklustre strike
Dhaka stocks advanced significantly last week after a four-week fall due to support from some state-owned entities and lukewarm strike enforced by the BNP-led alliance.
The key index of Dhaka Stock Exchange, DSEX, closed at 4,841.72 points on Thursday, adding 3.34 per cent or 156.68 points over the week. Of the 318 shares and mutual funds traded, 252 advanced, 47 declined and 19 remained unchanged.
The daily average turnover at the bourse increased by 36.32 per cent to Tk 292.12 crore in the week compared with that of Tk 214.28 crore in the previous week.
All the five trading sessions of the week ended positive amid investors’ increased participation on the trading floor as investors assessed the
market price lucrative, market operators said.
The lukewarm strike enforced by the BNP-led alliance also encouraged investors to increase participation at the trading, they said.
Besides, support from some state-owned entities also kept the market upward in the first two-three trading sessions, operators said.
The blue-chip index of the DSE, DS30, finished at 1,812.35 points on Thursday, rising by 4.57 per cent or 79.13 points over the week.
The Shariah index of the bourse, DSES, increased by 3.58 per cent, or 39.77 points, to close at 1,149.98 points.
‘Despite the stalemate on the political front, the benchmark index DSEX gained a total of 156.7 points amid fresh fund injection,’ IDLC Investments said in its weekly market commentary.
Most of the corporates disclosed their quarterly or annual earnings and investors tried to gather hope despite gloomy future, it said.
‘Turnover also improved as investors expected that they had passed the worst and reached the bottom,’ said IDLC.
‘The benchmark index experienced a full week of green session this [last] week after experiencing sluggishness in previous few weeks,’ LankaBangla Securities said in its weekly market commentary.
Though the political uncertainty still prevails in the country, investors came out of sidelines last week increasing the average daily market turnover by 36 per cent compared with that of the previous week, it said.
IFAD Autos led the turnover leaders in the week with its shares worth Tk 83.78 crore changing hands.
MJL Bangladesh, Grameenphone, BEXIMCO, Lafarge Surma Cement, Aamra Technologies, Square Pharmaceuticals, Beximco Pharma, Agni Systems and ACI Limited were among the other turnover leaders.
BEXIMCO gained the most with a 24.13-per cent increase in its share price, while GSP Finance Company was the worst loser, shedding 33.85 per cent.
-With New Age input
