Broad index at the country’s premier bourse, Dhaka Stock Exchange (DSE), broke the psychological barrier of 4,800 points to close at five months high of 4,808.4 points, gaining 152 points in the last week which got only three trading days, UNB reports. The daily average turnover at the DSE was Tk 673.93 crore, a rise by 28.88 percent while last week’s average turnover was Tk 522.91 crore.
The DSE benchmark index, DSEX, closed the week at 4808.40 points, 152.26 points or 3.27 percent high than the previous week. DSEX closed the previous week at 4656.14 points, gaining 56.22 points or 1.22 percent. The DSE Shariah Index, DSES, closed the week at 1195.22 points gaining 48.01 points or 4.18 percent. Another index of DSE, DS30 gained 67.96 points or 3.73 percent to close at 1888.84 points on the previous week.
Analyzing last week’s market situation, IDLC Finance said, “Market enjoyed a strong rally based on large cap scrips, with smaller ones participating with significant up moves while expected earnings declaration played a major role in pricing the scrips as well as the eventless political frontier yields a facilitating environment.” The leading stockbroker also said, “As investors underweighted the risks and emphasized on upbeat stories, DSEX broke the psychological barrier of 4,800 points to close at five months high of 4,808.4 points. The current gaining streak has sustained for 9 sessions in a row, adding up 281.7 points or 6.2 percent to the broad index.”
LankaBangla Securities, another leading stockbroker of the country, said, “Broad market made a handsome gain of 52.26 points this week with increased participation whilst stable economic and political outlook, coupled with better expected corporate earnings fueled the buying spree.” The merchant bank said, “Cement, Banking and Pharma stocks were in the preferred list of investors this week while the sectors registered 7.2 percent, 4.9 percent and 4.6 percent gain respectively.”
“Among the major economic updates, the government may set the current fiscal year’s export target at $32.8bn with a 5.13 percent growth amid economic slowdown in destination countries”, the stockbroker also informed. Of the 323 issues traded at the DSE in last week, 208 gained, 86 suffered loss and 29 remained unchanged. The major gaining sectors of the week were: cement gaining 7.24 percent, tannery 6.42 percent, NBFI 6.34 percent, and general insurance 5.73 percent.
The losing sectors at the DSE were: telecommunication losing 1.01 percent and service and real estate 0.45 percent. Top 10 gainers at the DSE on the last week were Islami Bank gaining 32.37 percent, followed by BSRM Limited 21.25 percent, Continental Insurance 18.06 percent, Renata 17.65 percent, Shahjibazar Power 17.55 percent, Central Insurance 17.34 percent, Linde Bangladesh 16.54 percent, percent, Bangladesh General Insurance 16.36 percent, Republic Insurance 14.97 percent, and Bangladesh Lamps 14.13 percent.
Lafarge Surma Cement dominated the week’s top turnover chart with shares worth Tk 138.77 crore, followed by Shahjibazar Power Tk 93.43 crore, ACI Tk 68.82 crore, Square Pharma Tk 67.83 crore and Grameenphone with shares worth Tk 67.55 crore. The week’s top five losers were Prime Islami Life with a down of 12.85 percent, followed by BD Welding Electrodes 9.09 percent, Saiham Cotton Mills 8.14 percent, Meghna PET 6.35 percent, and Gemini Sea Food 5.65 percent.