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Weekly stocks see crossing of 6,000-mark

FE Online Report | Published: September 01, 2017 11:58:12 | Updated: October 16, 2017 09:27:10


The Dhaka bourse passed an eventful week that ended on Thursday, as the core index of the prime bourse exceeded the 6,000-mark for the first time since its inception in January 2013.

Market insiders said after several futile attempts in last few days, DSEX finally budged up, crossing 6,000 points level for the first time since its inception more than four-and-a-half years ago.

“Stocks extended their record-breaking rally as investors continued to show their buying appetite on bank, non-bank financial institutions, food & allied and power stocks, anticipating positive momentum in post-Eid trading sessions,” said an analyst at a leading brokerage firm.

LankaBangla Securities, a stockbroker, said, “The week has been marked with a significant event, DSE index touched new highest point, exceeding 6,000-mark for the first time”.

All of the five trading day of this week saw positive index movement.

Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, went up by 121 points or 2.06 per cent to settle at 6,006.

The two other indices -- the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at 2,139 and 1,322 points, after advancing 27.38 points and 16.48 points respectively.

The port city bourse, Chittagong Stock Exchange (CSE), also finished higher with its Selective Categories Index, CSCX, gaining 206 points or 1.87 per cent to settle at 11,242.

The bullish sentiment also reflected on turnover activity as the total turnover for the week stood at Tk 45.45 billion on major bourse which was Tk 41.64 billion in the week before.

 The daily turnover averaged at Tk 9.08 billion, which was 9.14 per cent higher than the previous week’s average of Tk 8.33 billion.

 Banking sector emerged as turnover leader, contributing 27 per cent of the day’s total transaction, followed by engineering with 14 per cent and textile 10 per cent.

 International Leasing Securities, a stockbroker, said, “Investors increased concentration on the bank sector stocks taking the benchmark index of Dhaka bourse to its historical high of 6,006.43 points in the session since inception of the prime index by replacing the DGEN on January 27, 2013”.

 However, some investors were reshuffling their portfolios that saw price surge over the last few sessions, said the stockbroker.

 The total market cap of the DSE also rose to all-time high to Tk 4,021 billion, a 1.27 per cent increase over the previous week’s Tk 3,970 billion.

 LankaBangla Finance topped the week’s turnover chart with shares of Tk 1.68 billion changing hands, closely followed by Fortune Shoes with Tk 1.57 billion, BBS Cables Tk 1.54 billion, Bangladesh Building Systems Tk 1.52 billion and IFIC Bank Tk 1.20 billion.

Standard Ceramic was the week’s highest gainer, posting 39.60 per cent gain, while Asian Tiger Sandhani Life Growth Fund was the worst loser, losing 10.95 per cent.

-bb/rmc

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