Stocks returned to the green last week that ended Wednesday, snapping five weeks losing streak as investors took position on lucrative stocks, hoping for the end of prolonged political tension ahead of city corporation elections.
The week featured four trading sessions like previous one as market remained closed Thursday due to public holiday on the occasion of Independence Day. Of those, first and last sessions closed higher while mid two sessions saw marginal correction.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE) crossed the 'psychological' threshold of 4,500-mark again and ended at 4,509.30 points, gaining 41.28 points or 0.92 per cent.
The two other indices also ended in green. The DS30 index, comprising blue chips gained 27.19 points or 1.61 per cent to close at 1,713.86 points. The DSE Shariah Index rose 15.29 points or 1.41 per cent to close at 1,096.78 points.
The port city bourse Chittagong Stock Exchange (CSE) also returned to green after five weeks with its Selective Categories Index - CSCX - gained 38.27 points or 0.46 per cent to close the week at 8,338.35.
Activity improved slightly last week and the total turnover for the week stood at Tk 11.88 billion against Tk 10.23 billion in the week before.
The daily turnover for the week averaged Tk 2.97 billion, registering an increase of 16.17 per cent over the previous week's average of Tk 2.55 billion.
Pharmaceuticals captured 22 per cent of the week's turnover, followed by fuel and power which captured 13 per cent.
"After last few weeks of 'brutal correction', last week tried to create a breathing space for the investors," said IDLC Investments, in its weekly market analysis.
The week started with a hope of ease in political tension, which pulled forth investors who had been waiting for the rebound, said the merchant bank.
"Over the preceding weekend, expectations of major opposition party participating in election, scrapping blockades and strikes formed in the national mindset"
"Investors waiting for such turnaround predictably rushed in with a buying mode as trade started," said the merchant bank.
LankaBangla Securities said: "Market ended in green zone last week backing on manufacturing stocks ahead of corporate declarations".
"Large-cap stocks exhibited higher return as investors took position in consumer and pharma stocks which are expected to perform better in political unsoundness," said the stock broker.
Among the large-cap sectors, pharmaceuticals registered the highest gain of 3.11 per cent over the week. Telecommunications also posted a heavy gain of 3.07 per cent.
Cement and fuel and power also appreciated by 2.99 per cent and 2.40 per cent. Food and allied also advanced by a meager 0.67 per cent. The financial sector suffered with NBFIs losing 2.03 per cent and banks retracing by 0.46 per cent.
The losers took a modest lead over the gainers as out of 320 issues traded, 174 declined, 126 advanced and 20 remained unchanged on the DSE trading floor.
Five listed companies - Uttara Bank, Islami Bank, First Lease Finance & Investments, Shahjalal Islami Bank and ICB Islami Bank recommended dividend last week.
The market capitalisation of the DSE went up by 1.05 per cent as it was Tk 3,108.98 billion on the opening day of the week and it stood at Tk 3,141.74 billion on closing day of the week.
ACI Limited dominated the week's top turnover chart with shares worth Tk 759.82 million changing hands followed by Lafarge Surma Cement, Shahjibazar Power, GP and ACI Formulations.
Ambee Pharma was the week's top gainer, posting a rise of 17.90 per cent while Reliance Insurance was the week's worst loser, plunging by 26.20 per cent.
A new issue --Zaheen Spinning Ltd (ZSL)-- made a flying trade debut last week on both bourses. The new comer's share closed at 24.30, registering a whopping increase of 143 per cent on both bourses.
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