Dhaka stocks returned to the positive zone last week after four weeks in the red, but the turnover took a nosedive. DSEX, the key index of Dhaka Stock Exchange, added 71.72 points, or 1.83 per cent, in three trading sessions of the last week as the market was closed on Sunday and Thursday due to Eid-ul-Fitr and National Mourning Day respectively.The blue-chip index of the bourse, DS30, gained 37.83 points, or 2.56 per cent, in the week, but average daily turnover of the bourse declined by 12 per cent to Tk 278.91 crore from the previous week’s Tk 317.55 crore.
In the four weeks before that the DGEN had lost more than 350 points following worries over monetary policy and fear of political uncertainty, said market operators.
They said investors had been worried about the political situation after the Eid, which refrained them from making fresh investments despite low prices of shares after four weeks of downtrend.
‘Investors’ watchful tendency over future directions and political dimensions amid sluggish participation fostered trading activities throughout the week,’ IDLC Investments said in its weekly market analysis.
From the very beginning, the investors were positioning fundamentally lucrative scrips and market continued to maintain its green zone throughout the week, it said.
‘Factually, the week observed the impact of investors’ response over different issues regarding capital market, political warm-up and macroeconomic phenomenon like RMG’s export growing by 26.0 per cent,’ the merchant bank said.
Among the 291 issues traded during the week, 187 advanced, 95 declined and nine remained unchanged.
All the major sectors ended in the positive zone last week with non-bank financial institutions climbing the top by adding 7.45 per cent followed by fuel and power that gained 3.52 per cent.
Pharmaceuticals, banks and telecommunications sectors were also up by 1.19 per cent, 0.56 per cent and 0.43 per cent respectively.
Bangladesh Submarine Cable Company topped the week’s turnover chart with shares worth Tk 60.46 crore changing hands.
The other turnover leaders were Padma Oil, Meghna Petroleum, Olympic Industries United Airways, Square Pharma, Jamuna Oil, Argon Denims, Titas Gas and Grameenphone.
-With New Age input
