Dse Weekly Review
Stocks upbeat for fifth week
Dhaka stocks continued to rise last week, fifth week in a row, as investors were expecting further rise in share prices amid declaration of monetary policy by the central bank.
The key index of the bourse, DSEX, increased by 1.07 per cent, or 50.51 points, over the week to close at 4,753.17 points. DS30, the blue-chip index of the bourse, finished flat at 1,660.36 points, shedding 0.23 per cent or 3.75 points.
DSEX and DS30 on the first trading session of the week hit another fresh high at 4,758.37 points and 1,672.81 points respectively after their launch with 4,055.90 and 1,460.30 points.
The shariah index of the DSE, DSES, ended flat at 974.27 points, shedding 0.21 per cent or 2.06 points.
The market on the first trading session started with a positive note with an expectation that Bangladesh Bank would declare another relaxed monetary policy that pushed DSEX into another high at 4,758.37 points beating earlier high of 4,702.66 points.
Turnover of the Dhaka Stock Exchange declined to Tk 721.86 crore last week which was Tk 739.66 crore in the previous week.
The market slowed downtrend in the next trading session of the week as the investors decided to assess the monetary policy declared by the BB after the end of trading.
In the third trading session of the week, the investors’ profit-taking move slashed some points of DSEX. The market, however, started to regain in the next trading session as the investors found nothing negative in the monetary policy that could affect capital market.
The market in the last trading session of the week finished flat after starting positively following a court verdict regarding the country’s biggest ever arms haul.
‘Expectation based rollercoaster seemed to dominate the bourse over the week ahead of earning declarations,’ IDLC Investments said in its daily market commentary.
‘Sector wise in line with stock wise expectations, made the market scenario vibrant, which eventually assisted DSEX to add 50 points more from that of the last week,’ it said.
‘However, fresh positioning and re-positioning in lucrative scrips, profit booking, natural correction and scrip wise movements were the common scenarios throughout the week,’ IDLC said.
Of the 300 shares and mutual funds that changed hands over the week, 140 advanced, 146 declined and 14 remained unchanged.
Meghna Petroleum led the turnover chart as its shares worth Tk 133.21 crore changed hands.
While Padma Oil, Square Pharma, United Commercial Bank, Olympic Industries, LankaBangla Finance, Tallu Spinning, Summit Purbanchol Power Company, Summit Power and Grameenphone were among other turnover leaders.
Rahim Textile gained the most over the week as its share prices increased by 30.70 per cent, while Bangas lost the most shedding 11.48 per cent.
-With New Age input
