Love for \\\'lucrative\\\' shares extends bull-run
FE Report | Saturday, 4 October 2014
Dhaka stocks continued rally almost throughout week as investors snapped up the most sought-after shares.
As the week ended, DSE broad index DSEX gained 210.8 points and closed at 5237.72 points on Thursday.
The average daily turnover stabilised at Tk 9.6 billion in the last week.
Thursday's session was the last one before the vacation of Eid-ul-Azha and trading on both the bourses will resume on October 12.
On September 28 last, the maiden session of the week added 45.3 points and helped the market maintain 9 sessions' bull-run, closing DSEX above 5,000.0 points.
Market turned positive on the third session riding on movement of good-performing stocks such as Titas Gas, Delta Life Insurance, Square Pharma, Grameenphone and MJL Bangladesh.
Positive tendency, however, sustained for the remaining sessions of the week, adding 187.4 points at the later part.
Some cashing out ahead of Eid-Ul-Adha also took place, shrinking market movement at the very next session.
The market insiders said expectation of further upswing and better return continued to fuel optimism among investors.
According to them, throughout the whole week buying binge was strong in the market, as investors neutralised their tendency of booking short-term return.
"Fresh fund injection remained vigilant throughout the week. Additionally, investors' continued search for lucrative scrips," said IDLC Investments.
Market insiders said, during the week investors centralised their portfolios to fuel and power and pharmaceuticals sector, capturing 19.6 per cent and 14.0 per cent respectively of total turnover of the week.
In the last week, life Insurance and non-life insurance sector posted a gain of 11.8 per cent and 7.6 per cent respectively.
On the other hand, telecommunication and engineering sector plunged by 4.3 per cent and 1.6 per cent respectively.
Medium and small cap companies came on the front with a gain of 4.8 per and 3.6 per cent respectively.
mufazzal.fe@gmail.com