Stocks have returned to a winning note in the last week breaking a four-week losing streak as regulators took some affective steps against the continuing falling in the market. Market insiders said the stocks went up due to the regulatory interventions such as confirming legal authorisation regarding placing of any sale order coupled with central bank's move encouraged investors to put fresh fund.
The securities regulator set a series of meetings with the market stakeholders and investors during the week to identify the reasons of continuing fall in the market and formed a committee. On the other hand, many investors hold their position by buying on sector-wise securities, taking advantages of low price of good companies’ shares for continuing price falling in the market, market analysts said.
Besides, foreign investors showed buying spree on sector-wise share, pushing market up, they mentioned. Earlier, a number of worried investors staged protests in front of the Dhaka Stock Exchange building throughout the week in protest against the inaction of the authorities concerned to stop the free fall.
However, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 2.56 points to 5,233 in last week.
Meanwhile, the blue chips index (DS30) also rose by 6.61 points during the week to close at 1,836 on Thursday, while the Shariah Index (DSES) dropped 2.41 points to finish at 1,173 in the span of one week. The market capitalisation of the DSE increased by 0.57 percent to Tk 3,844 billion as against Tk 3,822 billion on the first working day of the week.
The daily average turnover stood at Tk 3.99 billion, which was 22 percent higher than the previous week's average of Tk 3.27 billion. The total turnover on the DSE reached at Tk 19.98 billion, up by 22.10 percent from Tk 16.36 billion in the week before. The losers beat the gainers as out of 354 issues traded, 185 closed lower, 153 higher and 16 remained unchanged on the DSE floor.
Fortune Shoes Limited dominated the DSE floor and topped the week's turnover chart. Market data showed, 20.85 million shares of the Fortune Shoes were traded on the floor of the Dhaka Stock Exchange during the week and its market value stood at almost Tk 820 million in the week. It was followed by United Power, Square Pharmaceuticals, Bangladesh Shipping Corporation, National Life Insurance and Beacon Pharmaceuticals.
SEML FBLSL Growth Fund was the week's best performer, witnessing a gain of 59.71 percent while Meghna Pet Industries was the week's worst loser, slumping by 17.70 percent. On the other hand, the port city bourse, the Chattogram Stock Exchange (CSE) also saw positive trend during the last week with its selective category index (CSCX) higher 7 points to close at 9,551.
All-Share Price Index (CASPI) of the CSE was higher by almost 11 points on Thursday, to close at 15,713. At the CSE, a total of 317 issues were traded. Among them, 127 closed higher, 167 ended lower and 23 remained unchanged. However, the number of shares transacted on the floor of the CSE was 40.3 million and the total turnover in value was Tk 961.82 million during the last week.
