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Stocks close week with record turnover

WT24 Desk

Dhaka stocks closed week bullish on Thursday when the daily trade value hit a 4-month high. The benchmark index of Dhaka Stock Exchange (DSE) closed 12.84 points up at 4373.33 as both trade volume and value increased substantially on active buying. The two selective indices, however, slid marginally to finish the week in red as their scrip groups suffered some volatility in prices. The blue-chip DS30 closed at 1668.34 and the Shariah DSES at 1060.88. The higher activities pushed the trade value a record high of Taka 538.52 crore, which was the highest after Taka 576.32 crore of November 19, 2014.

The transaction volume also surged to 11.52 crore shares, the highest after 11.37 crore shares, traded on December 10 last year. The average daily turnover increased by 27.1 percent this week compared to previous week.  “Market ended the week in green zone as opposition party called off non-stop strikes ahead of city corporation elections. Moreover, the psychological support at 4300 level also worked as a catalyst to stop further sell-off”, said Lanka Bangla Securities Limited.  Some issues witnessed phenomenal increase in their market performance. The newly listed United Power (UPGDCL) registered 43 percent return this week when one of the heavyweights, BATBC registered 44.15 percent growth in yearly net profit.

Fuel and power, textile, engineering and bank were the major performing sectors of the week. On the other hand, cement, telecom and pharmaceuticals were the poorly performed sectors. The top gaining companies were UPGDCL (43.0%), ZAHEENSPIN (20.4%), and SALAMCRST (22.0%) when the major losing companies were SHAHJABANK (-12.7%), PHOENIXFIN (-8.7%) and POPULARLIF (-8.4%).

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