Stock markets continued to witness bull-run for the fourth straight week ahead of budget to be announced next week.
The country’s prime bourse suffered technical glitch in the past week, forcing it to cut more than two trading hours in the first session of the week.
During the week that ended Thursday, the benchmark index DSEX ended at 4,544, gaining 48 points or 1.4%.
The blue-chip comprising index DS30 rose 58 points or almost 2.9% to 1,731. The shariah index DSES was up 16 points or 1.6% to 1,099.
The Chittagong Stock Exchange Selective Categories Index, CSCX, rallied 125 points or 1.5% to close the week at 8,583.
Power, pharmaceuticals and engineering continued to dominate the trading, accounting for 25%, 16% and 14% respectively of the week’s total turnover.
The DSE witnessed major technical glitches in the first two trading days of the week and forced the authorities to delay trading activities and cut trading hours to one hour and 40 minutes in opening session of the week.
“The market extended its winning streak amid hope that upcoming budget would be congenial to capital market, and industries would get budget boost,” said Lanka Bangla Securities.
The week’s daily average turnover at the DSE was Tk747 crore, down 2.6% over the previous week due to shortening trading hour because of technical glitches.
IDLC Investments said the week remained volatile while initial gain was partly subdued due to profit realisation by investors.
Enthusiasm from the market participants were evidenced from the weekly average turnover, it said, adding that in the recent bull-run, many weak fundamental shares also appreciated in price.
The large-cap sectors witnessed mixed performance last week. Non-banking financial institutions fell 1.8%, followed by telecommunications 0.7%.
Cement saw a steep gain of 6.6%, followed by food and allied 1.5%, power 1.2%.
Losers, however, took a lead over the gainers as out of 322 issues traded, 203 declined, 108 advanced and 11 remained unchanged on the DSE.
Khulna Power Company Limited was the week’s top turnover leader with shares worth Tk264 crore changing hands.
