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Staff Correspondent
The stock market rallied for 4th straight week on Thursday amid buying binge in the wee hour of trade.
In the wake of a peaceful election, the stocks have made a strong comeback as investors started showing their trust in the market.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) jumped 546.3 or 10.4 percent to 5797.3 point on Thursday over the last four weeks.
Market analysts said stocks witnessed a gaining streak as investors showed their buying spree on sector-wise securities.
The banking sector witnessed the high growth of operating profits of most listed banks for stable political situation after the elections, they said adding that the securities regulator’s positive move on margin rules prompted the investors’ confidence in the market.
They opined share market is very important for industrialisation in a country they have expressed their views that the government should therefore build a strong stock market.
They have emphasised ensuring safety for investment and said that this will draw in investors to inject more funds in the capital market.
Coming to the last week’s trade, the core index of Dhaka Stock Exchange (DSE) marked an increase by 206.83 points or 3.7 percent over the previous week to close at 5,795.3 points.
Meanwhile, the blue chips index (DS30) went up by 69.75 points or 3.59 percent to close at 2,011 on Thursday and Shariah index (DSES) rose by 47.3 points to finish at 1,318 points in span of one week.
The daily average turnover in the week increased by 37 percent to Tk 9.85 billion from the previous week of Tk 7.17 billion.
The total turnover of DSE increased to Tk 49.25 billion from Tk 21.51 billion in the week before.
Out of 347 issues traded at DSE, 261 ended higher, 79 closed lower and 7 remained unchanged.
BBS Cables dominated the turnover chart and became the top on the DSE floor with the trading of 11.46 million shares worth Tk 1.26 billion.
It was followed by Olympic Industries (Tk 1.10 billion), Brac Bank (Tk 1.04 billion), Beximco (Tk 925 million), and JMI Syringes & Medical Devices (Tk 913 million).
United Insurance was the best performer of the week, posting a gain of 41.61 percent, while Stylecraft was the week’s worst performer, slumping by 12.15 percent.
The market capitalisation of DSE rose by 3.19 percent to Tk 4,105 billion as against Tk 3,978 billion on the first working day of the week.
The port city bourse, Chittagong Stock Exchange (CSE), also saw positive trend during the past week with its selective category index (CSCX) gaining 359 points or 3.46 percent to close at 10,726.
On the other hand, the all-share price index of CSE (CASPI) was higher by almost 599 percent during the week to close at 17,765 points.