Stocks rebounded in the last week after breaking a straight four-week losing streak, as bargain hunters invested fresh funds of the low prices' shares despite the ‘strict’ lockdown.
DSEX, the key index of the Dhaka Stock Exchange (DSE), increased by 55.1 points or 1.05 percent to close at 5,310 in the last week, after declining 314 points in the straight four consecutive weeks.
Besides, the market capitalisation of the DSE went up by 0.77 percent during the time to close at Tk 4,627 billion on Thursday.
Market analysts said the stocks witnessed upward trend due to positive regulatory initiatives.
Despite the virus-induced strict lockdown, most of the investors, especially, the institutional ones took advantage of low-priced shares of some large-cap issues which helped the market ended higher, they mentioned.
Lucrative price levels of many stocks coupled with the lowered circuit breaker limit to 2 percent from the existing 10 percent for 66 companies also encouraged investors, they said.
They said the stock market regulator's last moment decision to keep the market open in line with banks had positively impacted investors' enthusiasm.
However, the DSE30 Index, comprising blue chips, went up by 36.43 points to settle at 2,026 and the DSE Shariah Index (DSES) increased by 11.42 points to finish at 1,209.
The total turnover on DSE also went up to Tk 20.19 billion against the previous week’s turnover of Tk 23.24 billion.
Mutual funds lead the growth and gain of 8.5 percent.
It was followed by cement with 6.6 percent and financial institution 2.7 percent.
Gainers lead over the losers, as out of 367 issues traded, 217 advanced, 90 declined and 60 issues remained unchanged on the DSE trading floor.
On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) also saw a rapid growth with its selective category index (CSCX) gaining 87 points in the last week to close at 9,277 points.
The All-Share Price Index (CASPI) of the CSE was higher by 148 points to close at 15,379 points.
Of the issues traded, 149 advanced, 101 declined and 29 remained unchanged on the CSE floor.
The port city's bourse traded 23.54 million shares and mutual fund units with turnover value of Tk 73.4 crore during the last week.
