Medical &Health

Stocks finish week bullish after hitting record

DHAKA, Jan 26, 2017 (BSS) - Stock market finished another bullish week on Thursday after hitting record in indices while investors were booking good return amid higher activities around large-cap securities.

The broader DSEX price index of Dhaka Stock Exchange (DSE) closed the week 1.53 percent up at 5618.64 when the blue-chip DS30 was 2.76 percent up at 2038.48 and the Shariah DSES closed 1.33 percent up at 1292.49.

The DSEX, DS30 and DSES, however, hit their record high at 5706.24, 2040.26 and 1301.78 respectively on Tuesday.

"The market behaved positively due to a continuation of bullish period in last couple of sessions," Royal Capital said in its market analysis.

According to the weekly update of the share-broking company, return from investing in shares was 1.53 percent last week when the rate of risk was 1.18 percent. It, however, cautioned that market would face somewhat selling pressure next week from profit booking.

The week ended Thursday with significant decline in average daily transaction as the investors were sector-specific and cautious in repositioning. The trade value fell by 3.58 percent to Taka 1731.36 crore, with the average daily trade volume falling by 5.46 percent to 54.74 crore shares.

Out of the traded 331 securities on DSE, 150 advanced while 168 declined and 12 remained static.

The top five gaining companies of the week were Islami Bank, Phoenix Finance, SIBL, Saif Power and Zanith Industries. The major five losing securities included BD Autocars, KDS Accessories, National Tubes, Sonargaon Textile and Zeal Bangla Sugar.

Islami Bank topped the turnover leaders of the week, with Beximco, Baraka Power, Lanka Bangla and City taking the following four top positions.

According to market analysts, BEXIMCO took the highest position mainly for higher trading activity without having any disclosure of price sensitive information. Many investors were also heavily buying and selling Islami Bank and NBL for booking profits.

Unlike DSE, Chittagong Stock Exchange (CSE) closed the week lower, with its major CASPI index plummeting 28.69 points to finish at 17398.29.

The market was under sale pressure on the last day of the week and as a result, majority of the traded issues closed lower.

Out of the day's 261 issues traded, only 87 advanced against 156 losing securities when 2.35 shares changed hands for Taka 72.43 crore.

Source: Bangladesh Sangbad Sangstha (BSS)