Stocks sign off week on sanguine note
Dhaka stocks sustained the bullish run and ended the week in the green on the back of investors' buying spree over speculation that there will be no change in the banks' loan-deposit ratio ceiling in the upcoming monetary policy.
DSEX, the benchmark index of the Dhaka Stock Exchange, gained 93.57 points, or 1.53 percent, to close at 6,215.80.
All but one of the trading sessions this week closed in the green. The average daily turnover this week was over Tk 449 crore, up 20 percent from last week.
The upcoming monetary policy, due to be announced on January 29, has put many investors in two minds, said Royal Capital in its weekly market analysis.
In the next week, some investors may go on a selling spree to protect their funds from potential losses, it said.
“The market trend for the next week looks somewhat confusing,” it added.
The Bangladesh Bank is expected to announce the monetary policy for the second half of the fiscal year with a view to curbing the money supply to the private sector, said a senior official of the central bank.
Textile, financial institutions and tannery gained the most this week, while fuel and power, engineering, insurance, paper and printing, telecommunication and ceramics sectors lost out.
Square Pharma topped the turnover chart this week with its transactions worth Tk 184 crore.
The company scored the top position for higher trading activity without disclosing any price sensitive information.
Grameenphone took the second spot with its transactions of Tk 129 crore.
Usmania Glass Sheet Factory was the week's best performer in terms of returns. The company gained 23.37 percent to close at Tk 111.40 each share.
Oimex Electrode was the worst performer this week, shedding 7.94 percent to close at Tk 53.30.
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