Stocks gain for 4th week

The Dhaka Stock Exchange ended the fourth week in a row in gaining streak defying the looming resurgence in Covid-19 cases.

The DSE witnessed buoyant trading throughout the past week while its benchmark DSEX index crossed 7,100-mark in the final trading session, for the first time in more than three months.

The benchmark DSEX index added 88.46 points or 1.3 per cent to finish the week at 7,106 points. Investors continued to opt for buying shares while some investors focused on profit taking at the bullish market.

The two other indices also ended the week in green as the Shariah-based DSES index advanced 6.69 points or 0.45 per cent to 1,508 while the blue-chip comprising DS30 index gained 19.08 points or 0.73 per cent to settle at 2,635 points. All the five trading sessions of the week ended in green.

Investors’ participation continued to go up in the market as average turnover advanced by 5.2 per cent to stand at Tk 1,648 crore in the week.

“Equity indices of the Dhaka bourse witnessed a positive week as investors continued to opt for buying shares while some investors focused on profit taking capitalizing on the recent bull-run,” said EBL Securities in its weekly market review.

The stock broker noted that price appreciation from several large cap companies, particularly BEXIMCO along with ACI, BSRM LTD, BRAC BANK, has contributed most to the week’s upward momentum.

Investors were mostly active in miscellaneous (14.8 per cent), textile (11.0 per cent) and pharmaceutical and chemical (10.6 per cent) sectors.

Most sectors witnessed positive performance out of which travel (9.3 per cent), services (8.8 per cent) and textile (5.4 per cent) witnessed highest return this week and cement (-2.7 per cent), ceramic (-2.2 per cent) and telecommunication (-1.8 per cent) witnessed the most correction.

BEXIMCO topped the turnover chart followed by Bangladesh Shipping Corporation, Fortune Shoes and

Saif Powertec.

Pharma Aids Limited turned out to be the week’s top gainer as its share gained 26.4 per cent in the week. It was followed by Fu-Wang Foods Limited, GHCL Limited, Samorita Hospital and so on.

On the other hand, Tallu Spinning Mills limited was to top loser company as it share price declined Tk 10.7 or 15.7 per cent. It was followed by Lovello, Titas Gas, Eastern Cables, Bashundhara Paper Mills and so on.