Dhaka stocks returned to positive trajectory last week after falling in the previous week as many investors remained on buying mood amid optimism while some moved for profit taking ahead of the Eid festival.
The key index of Dhaka Stock Exchange, DSEX, increased 0.41 per cent, or 24.31 points, over the week to close at 5,885.42 points on Thursday after losing 40.36 points in the previous week.
Although the market started the week downbeat, falling 42 points on Sunday, it rebounded from the next session, ultimately closing the week positive.
The market operators said that investors were active on both sides of the trading fence that resulted in marginal gains to the key index.
They said that many investors continued buying shares as they assumed that the market could gain further as it hit record high for several times in recent weeks.
Although most of the sectors gained over the week, the shares from small and medium capitalised sectors played the vital role in the upward index trend over the week.
The average share prices of jute, IT, engineering and ceramic sectors gained 10.10 per cent, 4.65 per cent, 2.63 per cent and 2.15 per cent respectively.
Marginal gains from some of the large capitalised sectors like bank, NBFI and pharmaceuticals also helped the market to close positive.
On the other hand, many investors opted for profit
taking mainly from the large capitalised scrips ahead of Eid festivals to meet Eid expenses.
Investors took out their investment from the market to avoid any unforeseen loss as the market normally remained sluggish before Eid vacation, stockbrokers said.
Besides, ongoing floods in different parts of the country made investors a bit cautious with the business activities in the country, stockbrokers said.
As a result, among the large capitalised sectors, cement, telecommunication and energy slumped by 2.16 per cent, 1.24 per cent and 0.73 per cent respectively over the week.
The daily average turnover on the bourse increased by 2.13 per cent to Tk 832.85 crore compared with that of Tk 815.47 crore in the previous week.
‘Broad index gained 24 points in this week with speculation and profit taking ahead of the Eid festival,’ said LankaBangla Finance in its daily market commentary.
Of the 333 companies and mutual funds traded, 176 advanced, 140 declined and 14 remained unchanged.
DS30, the blue chip index of DSE, added 0.11 per cent or 2.25 points to close at 2,111.34 points over the week.
The Shariah index of the bourse, DSES, added 0.11 per cent or 1.44 points to close at 1,305.62 points.
Like the previous week, BBS Cables led the turnover chart in the week with its shares worth Tk 228.27 crore changing hands.
Bangladesh Building Systems, LankaBangla Finance, Fortune Shoes, ACI, Ratanpur Steel Re-Rolling Mills, Keya Cosmetics, IFAD Autos, C & A Textiles and IDLC Finance were other turnover leaders.
Monno Ceramic Industries gained the most during the week with a 41.88-per cent increase, while Sandshani Life Insurance was the worst loser, shedding 18.31 per cent.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Stocks