Average daily turnover rose 26.38% to Tk665.74 crore from Tk526.79 crore in the previous week.
The Dhaka stock market ended last week in positive territory as investors returned to recently battered stocks, driving a 26% rise in average daily turnover and helping the benchmark index recover from early-week losses.
The Dhaka Stock Exchange (DSE) benchmark DSEX gained 31.87 points, or 0.59%, during the week to close at 5,444.91 points on Thursday (12 November), compared with 5,413.04 points a week earlier.
Average daily turnover rose 26.38% to Tk665.74 crore from Tk526.79 crore in the previous week. Total turnover over the five trading sessions reached Tk3,328.69 crore, up from Tk2,633.97 crore a week earlier.
Market analysts attributed the recovery mainly to bargain hunting in stocks that had undergone recent price corrections. Improved sentiment following regulatory developments also encouraged buying, although concerns over domestic economic uncertainties continued to weigh on investor confidence.
The market opened the week with two consecutive sessions of losses amid persistent selling pressure and a lack of fresh positive triggers. However, renewed buying interest helped the benchmark index recover on Tuesday and extend its gains on Wednesday.
According to market reviews by EBL Securities and BRAC EPL Securities, the easing of restrictions on selected frozen beneficiary owner (BO) accounts and initiatives to address negative equity portfolios also supported investor sentiment.
The market remained largely flat on Thursday as investors adjusted their portfolios amid ongoing first-quarter earnings disclosures by companies with June-ending financial years.
Among the major indices, the Shariah-based DSES gained 9.59 points to close at 1,057.30. In contrast, the blue-chip DS30 fell 9.23 points, or 0.45%, to 2,059.40, while the large-cap CDSET declined 1.55 points, or 0.14%, to 1,092.43.
Sectoral performance was mixed. Ceramic stocks led the gainers with a 6.6% rise, followed by IT stocks at 4% and textiles at 3.5%, according to EBL Securities.
Life insurance and non-bank financial institutions gained 1.77% and 1.35%, respectively. General insurance recorded the steepest decline of 1.51%, while banking and mutual fund stocks fell 0.73% and 0.69%, respectively, BRAC EPL Securities data showed.
Among large-cap non-financial sectors, engineering stocks gained 2.07% and fuel and power rose 1.90%. Pharmaceuticals edged up 0.36%, while food and allied stocks declined 1.50%.
Textiles accounted for the largest share of turnover at 22.47%, followed by fuel and power at 11.92% and general insurance at 11.76%.
Market breadth remained positive, with 207 securities advancing, 135 declining and 38 remaining unchanged. Another 31 securities saw no trading during the week.
Among individual stocks, Metro Spinning topped the gainers, rising 24.10% to Tk10.30. Saiham Textile gained 21.18%, while SP Ceramics advanced 20.69%.
Bank Asia’s preference shares led the losers, falling 17.37%, followed by Orion Infusion, which declined 11.88%
Source: The Business Standard
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