Home ›› 29 Apr 2023 ›› Stock
Dhaka stocks continued to remain buoyant for the second consecutive week, as investors started to return to the trading floor amid the ease of the macroeconomic strains and efficacious corporate earnings.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), the premier bourse, jumped 45.4 points, or 0.7%, to settle at 6,274 points at the weekend.
Meanwhile, investors’ participation in the market surged significantly, with the average DSE turnover jumping by 52.5 per cent to Tk 750 crore this week against the average turnover tally of Tk 491 crore in the previous week.
Moreover, the single-day turnover of the capital bourse hit nearly a 6-month high to Tk 967 crore on Thursday.
Stockbrokers and analysts said after a long spell of market volatility, a sentiment grew among investors that the market would turnaround, enticing them to put fresh funds in the market in hope of good returns.
Besides, most listed companies were now presenting healthy corporate earnings in the latest quarter, raising further hope about the market recovery, they added.
Moreover, the global macroeconomic situation is now on the way to a recovery path form what the Russia-Ukraine war had cast a shadow over the global economy and supply chain, analysts say.
Both the indices and the market turnover remained buoyant riding on price appreciation of some large-cap scrips with im-proved financial results, despite profit-booking pressures from risk-averse investors in recently rallied scrips, according to EBL Securities, a stockbroker.
The market performed four sessions this week, with the market starting the week with a gain of 0.38 per cent on Monday.
The market also continued the positive trend in the remaining three sessions also, according to Brac EPL, another stock-broker.
As per the EBL Securities, investors were mostly active in the food and allied stocks, with the sector topping the turnover chart with a contribution of 17.2 per cent of the total DSE turnover, followed by the IT (14.2 per cent) and the travel (12.1 per cent).
Unique Hotel & Resorts PLC was the week’s most traded stock with Tk 208 crore worth of its shares changing hands, fol-lowed by Eastern Housing Limited, and Genex Infosys Limited.
Most sectors ended in green this week, with the jute sector posting the highest gain of 19.3, while the tannery faced the highest correction of 0.9 per cent.
