After witnessing some volatility, stock market ended week positive, with all the three indices closing higher and transaction getting better on rising participation. Four out of five trading days of this week saw green endings, reports BSS. The broad market index at Dhaka Stock Exchange (DSE) suffered loss on Wednesday, but it leaped again to close comfortably over 4800 points level. IDLC Investment Limited attributed the positive turn to the higher level of activities and higher relative valuation level in large cap scrips.
DSEX gained 22 points over the week and finished at 4819.45. The blue-chip DS30 and the Shariah DSES also ended the week up at 1848.12 and 1186.67 respectively. “The market gave upbeat performance on the backdrop of smaller scrips, while the behemoths remained quite muted”, said Lanka Bangla Securities Limited (LBSL). The mostly impacted the market during the week was slow private-sector credit growth as businesses spent less on import bill amid international market slump.
The rock-bottom prices of essential commodities, including fuel oils drove import payment lower.
The major gaining sectors were engineering (4.53 per cent), ceramic (4.0 per cent) and fuel and power (2.31 per cent) and the major losing sectors were tannery (-2.81
per cent), textile (-1.25 per cent) and cement (-0.93 per cent).
The top advancing companies were Power Grid (18.3 per cent), Islami Bank (16.5 per cent) and Quasem Drycell (15.6 percent) when the top losing companies were Monno Ceramic (-12.7 per cent), Standard Ceramic (-11.4 per cent) and Anwar Galvanising (-10.8 per cent).
The last trading day of the week saw improved participation, taking the daily turnover in value over 20.0 per cent up at Tk 514.44 crore though the volume was marginally down at 12 crore shares.
The average daily turnover in value of the week was Tk 451.36 crore, 1.81 per cent higher than previous
week. The trade volume was 8.0
per cent down to 11.88 crore though it rose at the last trading day by over 20.0 per cent.
“Market came back with upward movement on Thursday allowing normalization of pre-festival sell off in capital market. Few banking stocks enticed the investors’ buying appetite in recent time which triggered ripple effect across the financial sectors”,
said LBSL.
Chittagong Stock Exchange (CSE) was up at the week’s close, with major CSCX gaining over 47 points at the last session to finish at 8986.47.
The transaction also rose considerably while 1.02 crore shares worth Tk 37.18 crore changed hand on Thursday.