Dhaka stocks advanced last week, for the second week in a row, with a significant rise in turnover as the UN secretary general’s move towards settling political crisis in the country made investors optimistic. The daily average turnover of Dhaka Stock Exchange increased to Tk 639.92 crore from that of Tk 428.69 crore in the previous week. DSEX, the benchmark general index of the bourse, closed at 4,299.58 points on Thursday, adding 0.52 per cent or 22.19 points.
The blue-chip index of the DSE, DS30, lost 0.51 per cent, or 7.57 points, to finish at 1,490.35 points.
Market operators said despite the political violence amid blockade enforced by the opposition political parties last week, investors’ participation on the trading floor increased significantly as they were hopeful of a solution to the political crisis through the mediation of Oscar Fernandez-Taranco.
Investors’ optimism kept the market up in the first four trading sessions, but the market fell in the fifth trading session of the week as investors found on output from the UN secretary general’s visit in Bangladesh, they said.
‘Week started with the hope of peaceful solution of political turmoil only to end in even more despair,’ IDLC Investments said in its weekly market commentary.
‘Nevertheless, the market advanced 22 points altogether in this week, while turnover scenario was quite encouraging, average turnover being 54 per cent higher than that of the last week [previous week],’ it said.
In line with previous week, the week was positive for small capitalisation stocks, as mini, micro and small capitalised stocks generated 4.22 per cent, 3.18 per cent and 2.18 per cent, respectively, while the large capitalised class was negative in performance, it added.
Of the 295 shares and mutual funds traded last week, 190 advanced, 93 declined and 12 remained unchanged.
Small capitalised companies continued to dominate the trading floor last week.
Beach Hatchery gained the most with a 37.21-per cent rise in its share price.
Delta Spinners, Fareast Finance and Investment, Hakkani Pulp and Paper, Rahima Food, Rupali Life Insurance Company, Central Pharmaceuticals, Golden Son, Salvo Chemical Industry and GSP Finance Company were also on the top gainers’ list.
Libra Infusion lost the most last week, shedding 13.95 per cent.
Generation Next Fashions led the turnover leaders with its shares worth Tk 161.81 crore changing hands in the week.
Delta Life Insurance, Paramount Textile, Golden Son, Envoy Textiles, RN Spinning Mills, Golden Harvest Agro Industries, Argon Denims, Central Pharmaceuticals and Bengal Windsor Thermoplastics were also among the top turnover leaders.
-With New Age input
