Stocks bounce back after two-week fall

The indices of the Dhaka stock exchange traded slightly upwards after two consecutive losing weeks.

DSEX, the prime index of the Dhaka Stock Exchange, advanced by 49.29 points or 0.8 per cent to settle at 6,377 points this week.

Average turnover advanced by 0.9 per cent to settle at Tk 771 crore as against Tk 764 crore in the previous week.

EBL Securities said last week’s uptrend was due to concerns over a number of macroeconomic adverse indicators and the prospect of a contractionary monetary policy announcement.

The blue-chip index DS30 lost 3.01 points or 0.13 per cent and stood at 2,295.59 points. The Shariah-based index DSES up 3.85 points or 0.28 per cent and stood at 1,386.78 points in the last week.

Besides, market capitalization at the Dhaka bourse has increased 0.67 per cent in this week. As of Thursday, the DSE market value roses to Tk 5,17,781 crore from what it was on Sunday, Tk 5,14,316crore.

Out of the 395 issues traded, 265 advanced, 94 declined, and 31 remained unchanged on Dhaka bourse on the week.

Investors were active primarily in Textile (16.2 per cent), Engineering (11.4 per cent) and Miscellaneous (10.6 per cent) sectors.

Sectors in DSE mostly witnessed positive performances out of which Paper & Printing (6.2 per cent), Bank (3.9 per cent) and Jute (3.1 per cent) observed the highest returns and Miscellaneous (- 2.6 per cent), Telecommunication (-0.8 per cent) and Tannery (-0.7 per cent) witnessed the most corrections this week.

The top 10 gainer companies based on the closing price of all companies are Meghna Insurance Company Limited, Intraco Refueling Station Limited, Prime Textile Spinning Mills Limited, Sonargaon Textiles Limited, Hamid Fabrics Limited, Ambee Pharma Limited, Navana CNG Limited, Crown Cement PLC, Alltex Industries Limited and Aziz Pipes Limited.

The top 10 loser companies based on the closing price of all companies are IPDC Finance Limited, Fareast Finance & Investment Limited, Sinobangla Industries Limited, United Insurance Company Limited, Fine Foods Limited, Rangpur Dairy & Food Products Limited, City General Insurance Co. Limited, Fareast Islami Life Insurance Co. Limited, Hakkani Pulp & Paper Limited and Shurwid Industries Limited.