Dhaka stocks recoup week’s early losses
BI Report || BusinessInsider
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Bouncing back from a massive downturn in earlier sessions, the Dhaka Stock Exchange (DSE) concluded last week on a positive note.
In the first two working days, the DSE saw a huge drop in the index with an alarming turnover decline—dropping to its lowest in one year.
However, from the third session, the market started to turn around.
The market began to gain momentum following the market regulator’s announcement of raising the lower circuit breaker limit. It allowed the limit for stock prices to go down in a day to 5 percent from 2 percent.
This resulted in the market capitalisation increasing by Tk 6,593 crore or 1.25 percent to Tk 5,35,618 crore.
The DSEX, the benchmark index, increased over 77 points, or 1.18 percent, to 6,662 by the end of the week.
Among other DSE indices, the shariah-based DSES Index rose by 16.84 points or 1.16 percent, and the blue-chip DS-30 Index was up by 37.62 points or 1.54 percent.
The total turnover also increased the last week. The DSE had a turnover of Tk 2,744.26 crore last week, which is Tk 480.59 crore or 21.23 percent more than the previous week.
The average turnover on the DSE was Tk 548.85 crore per working day, which is 17.06 crore or 3.02 percent less than the previous week.
A total of 386 issues traded last week. Among them, 204 advanced, 140 declined, and 42 remained unchanged.
Beximco Limited’s shares were the most traded last week. The company’s share turnover was Tk 216.05 crore, which is 7.87 percent of the total turnover.
Shares of JMI Hospital came in second place with a turnover of Tk 175.59 crore followed by Bangladesh Shipping Corporation with a turnover of Tk 88.91 crore.
Also on the list of top ten companies were Sonali Paper, IPDC Finance, LafargeHolcim Cement, Fortune Shoes, Square Pharmaceuticals, BDCOM and Genex Infosys Limited.
Meanwhile, on the Chittagong Stock Exchange (CSE), the overall index CASPI increased by 226 points or 1.16 percent to 19,593 during the week and Tk 164.92 crore worth of stocks were traded during the week.
