A file photo shows a man looking at a computer monitor displaying the stock prices at a brokerage house in Dhaka recently. Dhaka stocks in the past week advanced for the fourth week as investors continued buying shares, especially those of textile and pharmaceutical companies.— New Age photo Dhaka stocks in the past week advanced for the fourth week as investors continued buying shares, especially those of textile and pharmaceutical companies.
DSEX, the key index of the Dhaka Stock Exchange, gained by 1.52 per cent, or 94.59 points, over the past week to close at 6,307.35 points on July 15, the last trading session of the week. The DSEX gained 254.6 points in the last four weeks.
The market remained shut on July 11 as banks were closed on the day as per a government instruction amid strict Covid restrictions.
The DSEX soared by 1,054.6 points in the last 14 weeks with just one negative week.
After a slight loss on the first trading day of the past week, the key index rebounded and gained the remaining three sessions of the week as a section of investors continued buying shares ahead of Eid holidays, market operators said.
Eid-ul-Azha, one of the biggest religious festivals of the Muslims, will be celebrated on July 21 across the country.
EBL Securities in its weekly market commentary said, ‘The government initiatives such as the easing of the strict lockdown, the resumption of mass vaccination programme and the announcement of a stimulus package for the low-income people have helped investors maintain their confidence despite rising Covid cases and deaths. Investors were particularly interested in certain small capitalised stocks which witnessed a high percentage of gains in the past week.’
The DSEX hit a three-and-a-half year high again on July 15, drawing attention of many investors to the market.
Among the large capitalised companies, share prices of Bangladesh Export Import Company, Grameenphone, Berger Paints Bangladesh and Southeast Bank soared over the week.
Baraka Patenga Power, which made its debut on July 15, the last trading day of the week, hit the upper limit of the circuit breaker on that day.
A number of non-performing and fundamentally weak companies, including Familytex, Fareast Finance, Tung Hai Knitting & Dyeing and Fu-Wang Ceramics, soared over the week.Sonali Life Insurance, which made its debut on June 30, shot up by 373.75 per cent to close the week at Tk 75.8 a share.There was no price limit on the trading […]