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Stocks rise for five straight weeks

  • Published at 12:10 am December 4th, 2016
Stocks rise for five straight weeks
During the week, the benchmark index of Dhaka Stock Exchange DSEX rose over 31 points or 0.7% to settle at 4,823, which is the highest level since October 6 last year. The blue-chip index DS30 was up 18 points or 1% to 1,787. The DSE Shariah Index DSES gained 16 points or 1.5% to 1,149. The port city bourse, Chittagong Stock Exchange , also ended higher with its Selective Categories Index, CSCX, advancing 60.97 points or 0.68% to close at 9,023.26. The Chittagong Stock Exchange Selective Category Index CSCX moved up about 60 points or 0.7% to 9,023. Most of the major sectors ended in green during the week. Cement, engineering, food and allied fuel and power stocks were the best performers of the market. “Bull continued to resonate the market after hitting the benchmark index above 4,800-mark during the week and the market is moving towards the 4,870 resistance level steadily amidst strong liquidity,” said Lanka Bangla Securities. Long market uptrend attracted investors, pushing up the participation in trade. The week’s average daily turnover stood at Tk720 crore, down 9.5% over previous week that saw highest block trade. Excluding block transaction observed in the week before, the last week witnessed the year’s highest daily average turnover. Activities remained mainly confined to engineering, textile and pharmaceuticals sectors, together making up over 40% of the week’s total turnover value. Gainers took a strong lead over the losers as out of 328 issues traded, 187 closed higher, 107 ended lower and 34 remained unchanged on the DSE. Bangladesh Building Systems dominated the week’s turnover chart, followed by Quasem Drycells, Doreen Power, Lafarge Surma Cement and Beximco.