Dhaka stocks rise for 4th straight week

Dhaka stock market took the winning streak to four weeks as investors appeared to grow more confident. The market grew three days out of five sessions in the last week.

The market capitalisation of the Dhaka Stock Exchange (DSE) rose to Tk 522,664 crore at the end of the last week, up by Tk 779 crore from a week ago.

However, the turnover, which is the value of shares traded, went down in the last week compared to the previous week, DSE data shows.

Despite a rise in indices, most of the share and unit prices decreased as investors seemed to pour their money into specific stocks, such as Orion pharma, Orion Infusion, and Beximco Limited.

Beximco Limited’s shares were the most traded in the last week as the company’s share turnover was over Tk 663 crore, which was 7.29 percent of the total turnover.

Shares of Orion Pharma came in second place with a turnover of over Tk 595 crore followed by LafargeHolcim, JHRML, Nahee Aluminum, Eastern Housing, Delta Life, BSC, National Polymer, and Orion Infusion.

Meanwhile, the benchmark index of DSE, the DSEX was up over 51 points, or 0.79 percent, to end the week at 6,560.

Among other DSE indices, the shariah-based DSES increased by 32 points or 2.28 percent, and the blue-chip DS30 rose by 70 points or 3.06 percent.

While all indices rose, the turnover on the DSE fell. The DSE had a turnover of Tk 9,091 crore last week, which was Tk 423 crore or 4.45 percent lower than the previous week.

The average turnover was Tk 1,818 crore per working day, which was about Tk 85 crore or 4.45 percent less than the previous week.

A total of 387 companies participated in the share and unit transactions on the DSE last week. Among the companies, the share price increased by only 68, declined by 265, and remained unchanged by 54.

Meanwhile, on the Chittagong Stock Exchange (CSE), the overall index CASPI increased by 120 points or 0.62 percent to 19,276 during the week and Tk 160.07 crore worth of stocks were traded.