Stocks passed an overall positive week as investors continued to apply buying pressures particularly in the textile sector and low capital companies amid the ongoing strict lockdown put in place to curb the Covid-19 pandemic.
Last week the benchmark index DSEX of the Dhaka Stock Exchange (DSE) gained 63 points or 1.00% to reach 6,213, where the blue-chip index DS30 rose by 1.8% to 2,248 and shariah index DSES increased 2.00% to 1,342 points.
At DSE, 380 scrips were traded last week, out of which 230 advanced, 136 declined and 10 remained unchanged. Four scrips were not traded.
The daily average turnover – one of the major indicators of the capital market – also increased 14% to stand at Tk1,602 crore.
The market capitalisation of the DSE rose by 0.56% to Tk5.17 lakh crore last week that ended on 8 July.
The port city bourse, Chittagong Stock Exchange, also registered a sharp rise. Its prime index CASPI gained 206 points to close at 18,001 at the end of the last week.
EBL Securities said in its weekly market commentary despite the ongoing strict lockdown, investors have continued to apply buying pressures particularly in the textile sector as they are hopeful about the ongoing global apparel market recovery.
Investors also showed interest in small-cap stocks as the securities regulator has taken several initiatives to reform several small cap companies. But the insurance sector has suffered another week of a downturn after its month's long bullish trend, it added.
Investors have received the highest return of 6.3% from the jute sector followed by the mutual fund, paper, and cement.
Sonali Life Insurance was the top gainer with a 45.45% price hike, while Monno Fabrics was the worst share last week.
In the scrips-wise turnover chart, Beximco Limited grabbed the top position by contributing 6.58% of the DSE total turnover followed by LafargeHolcim Cement and Keya Cosmetics.
Last week the Bangladesh Securities and Exchange Commission (BSEC) approved a guideline to form a board of governance for the market stabiliser fund which will be made by the dividends. The BSEC claimed that the fund size will be Tk210 billion.
The securities regulator also directed the companies to provide unclaimed dividends to the market stabiliser fund within the next one month but the publicly listed companies' association sought two more months to comply with the order.