Insurance sector stocks returning to positive territory after a sharp correction in the previous week and have also contributed to the market ending on a positive note since the market turnover is still dominated by insurance sector scrips.
The country’s prime bourse, the Dhaka Stock Exchange’s key index, DSEX, gained 39.23 points or 0.62 per cent and closed the week at 6,319.25 points.
Average turnover decreased by 23.55 per cent to Tk 592 crore. The life insurance sector dominated the turnover chart covering 15.41 per cent of total turnover.
The blue-chip index, DS30, rose by 0.24 per cent gained 5.24 points and standing at 2,187.74 points while the Shariah-based index, DSES, went up by 0.55 per cent gaining 7.55 points and stood at 1,372.73 points.
The market performed five sessions this week and started on a positive note by 0.02 per cent on Sunday. It further remained in the positive terrain on Monday by 0.53 per cent. However, it ended on a negative note on Tuesday by 0.20 per cent but closed on a positive note of 0.15 per cent the next day. The market closed this week on a positive note by 0.13 per cent on Thursday.
EBL Securities said in its weekly market review that the key index of the capital bourse returned to positive territory as opportunist investors sought bargain-hunting opportunities in sector-specific scrips since the prevailing concerns regarding the market outlook was somewhat alleviated across the trading floor which was followed by the announcement of contractionary monetary policy.
The review also said that while investor sentiment improved to some extent, the movement towards gaining territory was led by particular small-cap and junk stocks as investors sought to take positions in the quick rallies in anticipation of quick gains.
BRAC EPL said in its weekly market review that all the financial sectors posted positive performance this week. General Insurance booked the highest gain of 3.11% followed by Life Insurance (+2.25%), Mutual Fund (+0.33%), NBFI (+0.24%), and Bank (+0.23%).
Investors were mostly active in the life insurance sector (20.3%) followed by the food sector (10.6%) and the pharmaceutical sector (8.8%). The sectors showed positive returns with the Jute sector (3.9%) being the highest gainer.
Out of the 403 issues traded, 162 advanced, 23 declined, and 208 remained unchanged on the Dhaka bourse for the week.
Khan Brothers PP Woven Bag Industries was the week’s top gainer, soaring 30 per cent while Samata Leather Complex was the week’s worst loser, losing 7 per cent.
The port city’s Chittagong Stock Exchange (CSE), showed upward trends this week. Its key index, CSCX rose by 0.45 per cent to 11154.57 points with the average turnover rising to Tk 1,796 crore. Out of the 311 issues traded, 115 advanced, 36 declined, and 160 remained unchanged on the port city bourse for the week.
