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With a hope of an expansionary monetary policy, stock investors poured fund on equities during the trading sessions of the week, which helped the bourses to retain gaining streak.
On Thursday, Bangladesh Bank unveiled an expansionary monetary policy focusing on the economic recovery from the Covid-19 pandemic.
DSEX, the benchmark index of the Dhaka bourse, stayed over 6,400 points with a gain of 118 points or 1.9 per cent to close at 6,425 points in the closing day of the week.
Weekly turnover took an uptrend last week to Tk 7,128 crore or 6.3 per cent while the daily average turnover tumbled by 14.96 per cent to Tk 1,425 crore.
Point-to-point estimates revealed DSES and DS30 added 13.3 points and 5.5 points respectively last week to their previous week’s indices.
According to the market insiders, investors including institutional and high net worth individuals are continuing injecting fresh funds into the market for capital gains due to the lower returns in the money market, various markets supportive measures taken by the securities regulator and budgetary measures in developing the country’s capital market.
They also said opportunist investors took positions in ceramic, engineering, pharma, general insurance, telecom and food sector stocks.
However, some other investors reshuffled their investment in miscellaneous, financial institution, life insurance and cement sectors amid the rising number of Covid-19 cases and deaths every day.
These investors remain cautious of the adverse impact of the pandemic on the macro-economic indicators of the country.
Out of the total 381 issues traded, 199 advanced, 167 declined, and 11 remained unchanged at the Dhaka bourse.
EBL Securities, in its daily market commentary, said that a section of investors were engaged in profit booking while the rest stayed positive as they have been expecting the continuation of the expansionary monetary policy. Large cap stocks continued to perform well in the market.
“The ongoing roadshow in US to attract more foreign and NRB investments may also have a positive impact on the market in near future,” it said.
Meanwhile, International Leasing Securities, in its daily market commentary, said Bangladesh Bank's warning to the commercial banks of diverting some stimulus funds to unproductive sectors like stock market and real estate sector as economic activities remained sluggish prompted the investors to go for liquidating their holdings.
The pharma sector dominated the turnover board and captured around 11.4 per cent of total market turnover. Saif Powertec dominated the turnover board with 3.5 per cent of total turnover of the week.
Top five gainer companies by closing price are – Baraka Patenga, GPH Ispat, Beacon Pharmaceuticals, Fu-Wang Ceramic, and Peoples Insurance.
On the other hand, top five losers are – Tamijuddin Textile Mills, Familytex (BD), Tung Hai Knitting, Pioneer Insurance Company and Zeal Bangla Sugar Mills.
Meanwhile, at the port city bourse Chittagong Stock Exchange (CSE), CSE30 declined 96.4 points where CSCX and CASPI added 42.6 points and 65.6 points respectively over the week.
