The stock markets saw a modest rally in the past week, extending their gaining streak for the third consecutive week that ended Thursday.
Trading activities got momentum in the week as the securities regulator’s some measures subdued concerns over weak economic data and political front.
During the week that ended on Thursday, the benchmark of Dhaka Stock Exchange, DSEX, settled at 4,641, rising over 67 points or 1.5%.
The blue-chip comprising index, DS30, was up 42 points or 2.5% to 1,772.
The DSE Shariah Index, DSES, added 23 points or 2% to 1,124.
The Chittagong Stock Exchange Selective Categories Index, CSCX, closed at 8,651, surging 144 points or 1.7%.
The week’s daily average turnover on DSE crossed Tk500 crore, up 14% over the previous week and highest in over three months. Engineering, Pharma and Power sectors witnessed highest trade volume, which together accounted for 54% of the week’s total turnover.
Telecommunication sector was the week’s best performer, gaining 6.5%, led by Grameenphone.
Investors also put fund on engineering, cement and power sectors, which surged 6.3%, 3.8% and 2.3% respectively. The major losing sectors were mutual fund and non-banking financial institutions.
“Stocks ended the week with consistent gain as the market was driven by industry specific news and economic updates,” said Lanka Bangla Securities.
It said as the market has already digested quarterly earnings, all eyes are on how the market triggers impact the bellwether stocks.
IDLC Investments said mixed macroeconomic and capital market news exposure prompted investors to demonstrate mixed investment plan.
Participants took the path of profit booking alongside reshuffling strategy throughout the five sessions of the week, it said.
“Especially, the securities regulator’s imposition of two-year lock-in period on sponsor-directors’ bonus shares of newly listed companies, boosted up investors’ confidence, pushing the DSEX beyond 4,600-mark during the week.”
Last week, Bangladesh Securities and Exchange Commission took a number of decisions, including imposition of two-year lock-in period on sponsor-directors’ bonus shares of newly listed companies, extension of withholding margin rules and deadline extension also for transactions in the negative accounts till next year.