DSE Weekly Review
Stocks advance as investors take scrip-wise move
Dhaka stocks advanced last week, first week after Eid-ul-Fitr, with an increased turnover due to scrip-wise higher participation of institutional investors.
The key index of Dhaka Stock Exchange, DSEX, finished at 4,486.20 points, increasing by 1.33 per cent or 59 points in the week. The DSEX increased for the third week in a row.
The daily average turnover at the bourse increased to Tk 544.17 crore in the week from Tk 321.35 crore in the previous week. Turnover at the DSE increased to a three-and-a-half-month high at Tk 651.80 crore on Wednesday.
Market operators said institutional investors’ scrip-wise investments helped to boost turnover at the bourse.
They also said that improved corporate declarations by the most listed companies made the institutional investors optimistic to increase their participation on the trading floor.
Followed by the institutional investors, retail investors also made them active on the trading floor in an expectation that the positive vibe of the market may sustain for some more trading sessions, operators said.
Besides, some scrip-wise short-term profit making approach by investors was also observed during the week, they said.
DS30, the blue-chip index of the bourse, finished at 1,652.71 points, gaining 1.61 per cent or 26.19 points.
The Shariah index of the DSE, DSES, rose by 2.15 per cent, or 21.62 points, to finish at 1,026.288 points. Of the 306 shares and mutual funds traded, 179 advanced, 113 declined and 14 remained unchanged.
‘Overall, lucrative prices coupled with better earnings and search for investment worthy spread in market dynamics lured investors most last week,’ IDLC Investments said in its weekly market commentary.
On the basis of recent earnings, investors continued re-balancing portfolios with more focus on selective scrips from fuel and power, telecommunication and cement sectors, it said.
Grameenphone led the turnover leaders in the week with its shares worth Tk 173.75 crore changing hands. Beximco, MJL Bangladesh, ACI, Lafarge Surma Cement, Golden Son, Square Pharma, The Peninsula Chittagong, Shahjibazar Power Company and Meghna Petroleum were among the other turnover leaders.
Shahjibazar Power gained the most with a 38.16-per cent increase in its share price in the week despite the fact that the Bangladesh Securities and Exchange Commission on August 3 formed a two-member inquiry committee to probe the recent unusual price hike of the shares of the company.
-With New Age input
