Dhaka stocks’ rally extends to 5th week

Dhaka stocks continued with gains in the past week to extend the bull run to the fifth week as investors kept injecting funds, especially into the financial scrips, while a some others went for profit taking share sales.

The daily average turnover on Dhaka Stock Exchange increased further by 7 per cent to Tk 1,054.33 crore in the last week from Tk 985.12 crore in the previous week.

DSEX, the key index of DSE, advanced 0.49 per cent, or 28.27 points, to close at 5,7825.57 points on Thursday, the last trading session of the week.

The DSEX gained 573.72 points in the last five weeks.
The market advanced in another week as a prolong rise in it provoked investors to make new investments at the market, market operators said.

The surge, however, was capped as many investors went for profit taking share sales over the week after their recent gains, they said.
The capital bourse of the country witnessed positive movement in the first three sessions of the week but it went into red zone in the last two sessions amid profit booking tendency among investors, said EBL Securities in its weekly market commentary.

During the week, investors opted for profit booking on shares that witnessed price appreciation in the recent upbeat momentum while some took positions in fundamental stocks ahead of earnings declarations, it said.

The financial sector led the surge for another week with a gain in share prices of non-bank financial institutions and bank by 2.6 per cent and 0.7 per cent respectively, stockbrokers said.

Average share prices of insurance sector continued to surge for the third consecutive week. 
Share prices of general insurance sector shot up by 13.6 per cent and life insurance soared by 4.0 per cent last week and out of 47 insurance scrips, 44 advanced in the week.

Of the top ten gainers of the week, nine were from the insurance sector, which was a substantial comeback for the sector after remaining out of sight for a long time.

On the other hand, average share prices of telecommunication, textile and pharmaceutical sectors dropped by 3.4 per cent, 2.0 per cent and 0.1 per cent respectively.

Out of the 348 traded issues, 160 advanced, 170 declined and 18 remained unchanged.
DS30, the blue-chip index of DSE, however dropped 0.11 per cent, or 2.26 points, over the week to close at 2,009.49 points.
Shariah index DSES also declined 0.67 per cent, or 8.86 points, to close at 1,309.80 points.

Khulna Power Company led the turnover chart with its shares worth Tk 171.57 crore changing hands in the week.
BBS Cables, Olympic Industries, JMI Syringes & Medical Devices, United Power Generation Company, BRAC Bank, Singer Bangladesh, Active Fine Chemicals, Dhaka Bank and Al-Haj Textile Mills were the other turnover leaders.

Agrani Insurance Company gained the most in the week with a 53.59-per cent increase in its share prices, while Meghna Pet Industries was the worst loser, shedding 22.48 per cent.
Source: http://www.newagebd.net

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