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Dhaka Stocks closed positive this week riding on the opportunist investors who chased down particular sector-specific stocks in hope of quick returns.
A majority of the stocks, however, were stuck at their floor prices without potential buyers at the Dhaka Stock Exchange (DSE).
Moreover, recent disclosures regarding the declining export and remittance inflows along with a widening trade deficit shattered investors’ confidence, prompting them to stay watchful on the trading floor.
The DSEX, the benchmark index of the DSE, added 56.62 points or 0.87 per cent to settle the week at 6,569.51.
Among other indices, the DS30, the blue-chip index, gained 31.15 points to close at 2,361.57, and the DSES, the Shariah-based index, surged 23.75 points to 1,443.48.
The average turnover of the DSE, however, fell by 9.70 per cent to Tk 1320 crore this week compared to the same in the previous week.
The pharmaceutical sector topped the turnover chart with a contribution of 18.55 per cent to the total DSE turnover.
The market closed with four sessions this week.
On Sunday, the market closed 0.29 percent higher. It, however, turned negative Monday by giving up 0.20 per cent.
The market, however, returned to positive territory on Tuesday by closing the session with a 0.41 per cent gain and remained positive on Thursday by gaining 0.38 per cent.
The market remained closed on Wednesday due to a government holiday.
The financial sector posted mixed performances this week.
Among them, the bank sector, gained the most with an appreciation of 0.07 percent, followed by mutual funds.
The equity indices of the Dhaka bourse remained steady throughout the week as opportunist investors hunted for particular sector-specific stocks in hope of quick gains, while a majority of the stocks were stuck at the floor prices without potential buyers, said EBL Securities, a stockbroker, in its weekly market review.
Moreover, recent disclosures regarding the declining export and remittance inflows along with a widening trade deficit have damaged investors’ confidence, prompting them to stay watchful on the trading floor, it commented.
Out of the 396 issues traded, 101 stocks advanced, 94 scrips declined, and 192 issues did not see any price movement on the trading floor of the DSE this week.
