Home ›› 14 Aug 2021 ›› Stock
The Dhaka Stock Exchange has completed another week hitting new highs in turnover and indices.
DSEX, the key index of the prime bourse, successively surpassed all the previous records and stood at the highest level of 6,999 points on the week’s last trading day.
The key index went up by 103.31 points or 1.57 per cent as investors’ buying rush continued throughout the week.
The average turnover, another important indicator of the market, increased by 13.92 per cent to stand at Tk 2,664 crore, the highest since December 2010, as both the high-net-worth individuals and institutional investors preferred to inject money into the stock market.
Besides, the market capitalisation of the bourse hit a fresh all-time high at Tk 5,47,868 crore on Thursday, which was Tk 5,45,535 crore on Monday when the week’s trade commenced.
Market operators observed that the overall market-cap at Dhaka bourse has influenced a rise in share price of most companies.
Out of the 382 issues traded, 188 advanced, 178 declined, and 12 remained unchanged on Dhaka bourse in the week.
EBL Securities, in its weekly market commentary, said that the investors engaged in buying spree in the prospective stocks throughout the week, though the market witnessed limited profit booking and portfolio restructuring.
Meanwhile, the Bangladesh Security and Exchange Commission (BSEC) decided to conduct an investigation on the unusual price hike of nine companies.
SBAC Bank was the fresh debutant this week and its stock closed at Tk 12.1.
International Leasing Securities, in its market commentary, said the buoyant investors continued their buying spree amid lower return in the money market and limited scope of investment in other instruments and reopening of the economic activities despite Covid pandemic.
As a consequence, the DSEX has been successful to extend the gaining streak for the eighth consecutive week.
The investors persisted their buoyancy in the stocks riding on the HSBC projection of 6.2 per cent economic growth of Bangladesh in FY 2021-22 amid mass vaccination, remittance inflow, and a rise in exports of readymade garments, it said.
The market insiders said that the investors’ attention was on the bank sector stocks as the central bank has set a floor on deposit rates for the sake of depositors as they are now getting an interest return lower than the inflation rate.
Investors were mostly active in textile (16.2 per cent), engineering (14.1 per cent) and pharmaceuticals and chemicals (11.6 per cent) sectors.
Most of the sectors experienced positive performance this week, out of which miscellaneous (5.6 per cent), financial institution (5.2 per cent), and cement (4.7 per cent) witnessed the highest price appreciation while general insurance (-5.4 per cent), mutual fund (-5.4 per cent) and life insurance (-2.8 per cent) witnessed price correction.
The DSES and the DS30 added 19.7 points and 41.7 points respectively to their previous week’s indices.
The top ten gainers of this week were National Housing Finance, Miracle Industries, Appollo Ispat Complex, Islamic Finance, IFIC Bank, IPDC Finance, The ACME Laboratories, CVO Petrochemical Refinery, International Leasing and Delta Spinners Limited.
On the other hand, the top ten losers were Prime Insurance, Emerald Oil Industries, Asian Tiger Sandhani Life Growth Fund, CAPM BDBL Mutual, Phoenix Finance 1st Mutual Fund, 1st Janata Bank Mutual Fund, National Feed Mill, EXIM Bank 1st Mutual Fund, Sonar Bangla Insurance and Purabi Gen. Insurance Company Limited.
Top ten companies by turnover value for the week were Bangladesh Export Import Company, IFIC Bank, LankaBangla Finance, Orion Pharma, LafargeHolcim Bangladesh, Malek Spinning Mills, GPH Ispat, Appollo Ispat Complex, Beximco Pharma and Islamic Finance.
Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE) also registered gain this week. It’s indices – CSE30, CSCX and CASPI – added 368.4 points, 188.7 points and 327.1 points respectively over the period.
