A file photo shows a man looking at a computer screen displaying stock prices at a brokerage house in Dhaka recently. Over the past week, Dhaka shares rose for the fourth week, as investors continued to buy stocks, especially in textiles and pharmaceutical companies. – Photo New Age
Over the past week, Dhaka shares rose for the fourth week as investors continued to buy stocks, especially in textiles and pharmaceutical companies.
DSEX, the key index of the Dhaka Stock Exchange, gained 1.52%, or 94.59 points, over the past week to close at 6,307.35 points on July 15, the last trading session of the week.
The DSEX has gained 254.6 points over the past four weeks.
The market remained closed on July 11 as banks were closed the same day under a government instruction under strict Covid restrictions.
The DSEX has climbed 1,054.6 points over the past 14 weeks with just one negative week.
After a slight loss on the first trading day of last week, the key index rebounded and gained the remaining three sessions of the week as a section of investors continued to buy stocks ahead of the summer holidays. ‘Eid, market operators said.
Eid-ul-Azha, one of the biggest religious holidays for Muslims, will be celebrated on July 21 across the country.
EBL Securities in its weekly market commentary said, “Government initiatives such as easing the tight lockdown, resuming the mass vaccination program and announcing a stimulus package for low-income people have helped investors maintain their confidence despite the rise in Covid. cases and deaths. Investors were particularly interested in certain small cap stocks which posted a high percentage of gains over the past week. ‘
The DSEX again hit a three-and-a-half-year high on July 15, catching the attention of many investors in the market.
Among the large capitalized companies, stock prices of Bangladesh Export Import Company, Grameenphone, Berger Paints Bangladesh and Southeast Bank soared during the week.
Baraka Patenga Power, which debuted on July 15, the last trading day of the week, hit the upper breaker limit that day.
A number of underperforming and fundamentally weak companies, including Familytex, Fareast Finance, Tung Hai Knitting & Dyeing, and Fu-Wang Ceramics, soared during the week.
Sonali Life Insurance, which debuted on June 30, jumped 373.75% to close the week at Tk 75.8 per share.
There was no price limit on trading in the company’s shares on July 12, as the company declared a 10 percent cash dividend for the year 2020.
Average stock prices for all sectors except insurance rose during the week.
Stock prices in engineering, textiles, non-bank financial institutions and pharmaceuticals rose 2.4 percent, 2.2 percent, 2.0 percent and 1.3 percent, respectively.
The textile and pharmaceutical sectors totaled 28 percent of total sales for the week.
Average DSE revenue increased to Tk 1,676.62 crore last week from Tk 1,602.67 crore the week before.
DSE’s blue chip DS30 index rose 1.19%, or 26.69 points, to end at 2,274.91 points.
The DSES Shariah Index also rose 1.33%, or 17.81 points, over the past week to close at 1,359.36 points.
BEXIMCO topped the turnover chart last week with its shares valued at Tk 594.36 crore changing hands.
Power Grid Company of Bangladesh, LafargeHolcim Bangladesh, Bangladesh Finance and Investment Co, Sonali Life Insurance Company, LankaBangla Finance, Paramount Textiles, Southeast Bank, Alif Manufacturing Company and Aman Feed were the other top revenue leaders.