Core index adds 115 points in three weeks

Stocks posted a modest rise in the outgoing week, extending the gaining streak for the third straight week, riding on selective large-cap issues.
Week-on-week, DSEX, the key index of the Dhaka Stock Exchange (DSE), went up 13.93 points or 0.13 per cent to settle the week at 7,342. The core index added nearly 115 points in the past three consecutive weeks.
The market witnessed five trading days as usual. Of them, three sessions closed higher while two saw modest corrections amid increased participation of investors.
The DS30 index, comprising blue chips, gained sharply by 56.86 points to finish at 2,767 as large-cap stocks such as LafargeHolcim and Beximco shares jumped during the week.
The DSE Shariah Index (DSES) also edged up by 3.69 points to close at 1,595.
The week's total turnover stood at Tk 127.25 billion on the prime bourse as against Tk 111.46 billion in the previous week.
The daily average turnover stood at Tk 25.46 billion on the country's premier bourse, which was 14 per cent higher than the previous week's average of Tk 22.29 billion.
Market insiders said stocks edged higher, despite most of the traded issues closed lower, as investors were attracted to selective large-cap stocks instead of low paid-cap shares throughout the week.
"Institutional investors are currently active in the market and are buying good stocks. So, the blue-chip index is rising," said an analyst at a leading brokerage firm.
Price surge of selective large-cap stocks such as LafargeHolcim, Orion Pharma, Beximco, Power Grid Company and Beximco Pharma helped the market to close to green, he said.
"Improving pandemic situation, gradual economic recovery, lowered the interest rates in the national savings instruments helped investors to keep their confidence in the market," he added.
Buoyancy in engineering, cement, power, food and pharma sectors led the market to close in green despite sell pressure in general insurance, financial institution, life insurance, textile and bank sectors, according to International Leasing Securities.
Some investors were rebalancing their portfolios ahead of corporate declarations, said the stockbroker.
The engineering sector posted the highest gain of 2.70 per cent, followed by cement with 2.50 per cent, power 1.90 per cent, food 1.80 per cent, pharma 1.50 per cent and telecom 0.60 per cent.
On the other hand, the general insurance sector saw a sharp correction of 6.20 per cent, followed by life insurance 4.30 per cent, textile 3.0 per cent and banking 0.70 per cent.
Losers took a strong lead over the gainers as out of 378 issues traded, 272 closed lower, 93 higher and 13 issues remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) also ended marginally higher with the CSE All Share Price Index - CASPI -rising 64 points to settle at 21,441 and the Selective Categories Index - CSCX-- gaining 44 points to close at 12,879.
Of the issues traded, 186 declined, 147 advanced and 12 remained unchanged on the CSE trading floor.
The port-city bourse traded 124.45 million shares and mutual fund units with turnover value of Tk 5.07 billion.

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