Dhaka stocks rebound after decline in previous week

Dhaka stocks rebounded last week after decline in the previous week mainly due to earnings expectation-centric fresh investment moves, especially shares prices of bank and non-bank financial institutions. 

The key index of Dhaka Stock Exchange, DSEX, increased 0.56 per cent, or 32.60 points, over the week to close at 5,815 points on Thursday after declining 52.39 points in the previous week.

The week started with investors’ cautious participation on the trading floor due to scheduled announcement of monetary policy on Wednesday last week, stockbrokers said.

The market, however, witnessed some optimistic purchasing during three trading sessions amid announcements of half-yearly earnings reports of a number of companies, especially those of bank and non-bank financial institutions, stockbrokers said.

Investors were much concentrated on banks scrips mainly as the earning of the banks which were announced during the week was comparatively satisfying, they said. 

As a result, average prices of bank shares increased by 1.34 per cent during the week. 

Besides, telecommunication and ceramics gained 3.24 per cent and 1.36 per cent respectively.

The daily average turnover on the bourse, however, declined 38.63 per cent to Tk 623 crore compared with that of Tk 1,015 crore in the previous week.

Of the 332 companies and mutual funds traded, 186 advanced, 118 declined and 28 remained unchanged.

DS30, the blue chip index of the DSE, finished at 2,129 points, adding by 0.34 per cent or 7.31 points over the week.

‘Broad index ended this trading week with 32.60 points in the green,’ LankaBangla Securities said in its weekly market report.

‘In three of the five days of the week, index closed positive with combined total gain of 48.83 points,’ it said.