Stocks keep up bullish trend
Dhaka stocks continued a bull-run for the eighth consecutive week, driven by the banking sector.
Week-on-week, the benchmark index of the Dhaka Stock Exchange -- DSE General Index (DGEN) -- jumped up 200 points, or 2.51 percent to 8,187 points, also the highest-ever level.
The banks dominated the week with advancing 7.49 percent on an average. The sector also accounted 41.6 percent of the total turnover.
Stockbrokers said the third-quarter earnings of the banks drove many investors taking positions in the sector.
They said the banks' earnings showed a huge growth, especially those of which made better than expected profit from stock investment.
The investors are expecting a growth in bank profits will continue in the last or fourth quarter too and a good return from their investment.
On Sunday, the week started with the DGEN closing flat. However, the following day finished marginally lower.
On Tuesday, the DGEN broke through the 8,000 points mark after gaining 108 points on the day. It kept gaining for the next two days.
Apart from banks, telecom sector was a big gainer, as Grameenphone, the sole constituent in the sector, rose 4 percent.
Among others, life insurance gained 3.6 percent, general insurance 0.67 percent, pharmaceuticals 1.06 percent and tannery 0.27 percent.
Contrast, non-banking financial institutions lost 0.96 percent and mutual funds 7.78 percent.
Both the total turnover and the daily average turnover also declined 2.63 percent Tk 12,310 crore and Tk 2,462 crore respectively.
Losers beat gainers 138 to 108 on the premier bourse, which traded more than 55.62 crore shares and mutual fund units.
Market capitalisation stood at Tk 3,45,227 crore, up by 2.26 percent.
Beximco Limited topped the list of the turnover leaders, followed by People's Leasing and Financial Services, AB Bank, Shahajalal Islami Bank and Southeast Bank.
Chittagong stocks however marked a rise last week, with the CSE Selective Categories Index increasing 2.93 percent to 14,983.
More than 6.68 crore shares and mutual fund units were traded on the Chittagong Stock Exchange on a value of Tk 1,068 crore.
Losers however beat gainers 112 to 89, with two securities remaining unchanged on the port city bourse.
Beximco topped the list of turnover leaders, followed by Premier Bank, Southeast Bank, AB Bank and Pubali Bank.