Dhaka stocks end week bullish

Dhaka stockmarket wrapped up the week positively with a 1.12 percent gain as investors were busy in buying stocks rather than selling.

However, the benchmark index of Dhaka Stock Exchange, DSEX, fell 11 points to close the last day of the week at 5,880.45 yesterday.

“Investors may perceive that the market will continue the bull run over a shorter time period as there may be heavy flow of funds with reference to the flexible monetary policy announced by the Bangladesh Bank,” said Royal Capital Ltd (RCL), a stock brokering service provider.

The average daily turnover for the week increased by 88.77 percent, reflecting higher liquidity in the market compared to the last week.

Investors' active participation in buying stocks pushed the turnover up, according to market analysts.

Turnover in the week reached nearly Tk 5,322 crore, up by almost 71 percent from the previous week.

The volume of average daily turnover rose by nearly 89 percent to 36.27 crore shares in the week from the previous week.

Sectors that triggered higher returns last week than the previous week were bank, paper and printing and jute.

Mean while the prices of stocks of pharmaceuticals, insurance, fuel and power and travel and leisure went down in the week.

DSE data shows two Z category shares outperformed others in terms of price hike in the week. Prices of Dulamia Cotton Spinning Mills and Samata Leather Complex rose by whooping 47 percent and 35 percent respectively in the week.

Pragati Life and Union Capital lost their share prices by over 17 percent and 11 percent respectively.

In terms of turnover, LankaBangla Finance was the market leader in the week with Tk 245 crore in transactions followed by City Bank with Tk 203 crore.

In the next week, investors may go for selling stocks for profit-booking, RCL said in its analysis.

However, it observed that the market trend will be somewhat bullish in the next week.