Stocks snap two-week losing streak

The Dhaka Stock Exchange (DSE) has snapped a two-week losing streak and ended the past week as well as the year marginally higher at 6,757 points, up by 0.8 per cent or 54.05 points from the previous week.

Relaxation of margin loan facility and possibility of settlement between the Bangladesh Securities and Exchange Commission (BSEC) and the Bangladesh Bank have charged up the investors to remain on the trading floor.

Besides, they were busy in rebalancing their portfolio at the yearend what helped the market to remain afloat.

Two other indices also finished the week in green as the blue-cheap comprising DS30 index increased 0.82 per cent or 20.59 point to 2,532 and the Shariah DSES index rose 0.52 per cent or 7.42 points to 1,431.

Apart from that, the average daily turnover advanced by 9.07 per cent to stand at Tk 832 crore at the weekend.

“The Dhaka bourse ended the week in positive as relaxation of margin loan requirement, possibility of settlement between BSEC and BB, and portfolio rebalancing by investors lifted up the market,” said a stock broker.

EBL Securities noted that the investors were mostly active in general insurance (17.4 per cent), miscellaneous (15.1 per cent) and bank (9.8 per cent) sectors.

Most sectors witnessed positive performance. Of them, paper and printing (7.7 per cent), travel (3.2 per cent) and financial institutions (2.5 per cent) witnessed highest return while jute (-5.3 per cent), services (-1.5 per cent) and telecommunication (-0.3 per cent) witnessed the most correction.

The Bangladesh Shipping Corporation (BSC) tuned out to be the top gainer of the week while Savar Refractories was the top loser.

BRAC Bank was the week’s index puller as it charged the benchmark index up by 6.8 points. Beximco was the index dragger as it dragged the index by 6.7 points.

Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also registered gain last week with CSCX and CASPI advancing by 78.9 and 136.4 points respectively.