The prime index of the Dhaka Stock Exchange (DSE) witnessed a modest gain in the last week, breaking a three-week losing streak as many investors showed interest in some overvalued stocks in expectation of quick gains.
Market analysts said stocks showed an upward trend mainly driven by the price surge in selective small-cap sector stocks including particularly jute, services and real estate and tannery stocks.
They said the stock market tried to bounce back during the week riding on the regulatory measures like increasing the investment limit of mutual funds.
The Bangladesh Securities and Exchange Commission last week took the decision to raise the investment limit for mutual funds in a bid to increase institutional investors' participation in the market, they added.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 7.41 points to settle at 6,214.20 after shedding 54 points in the past three weeks straight.
However, the DS30 Index, comprising blue-chip companies, decreased by 10.55 points to 2,198 and the DSES Index, Shariah-based companies, declined by 1.44 points to 1,348.
The total turnover in the week increased to Tk 28.93 billion, up from Tk 16.39 billion in the previous week.
The average daily turnover rose by 41 percent to stand at Tk 5.78 billion from the previous week's average turnover of Tk 4.10 billion.
Investors were mostly active in the IT sector, capturing 20 percent of the week's total turnover.
It was followed by the food sector (13 percent) and pharmaceuticals (8.0 percent).
The small-cap jute sector rose almost 10 percent. It was followed by services and real estate (1.70 percent), paper (1.30 percent), banking (0.50 percent).
On the other hand, the food and allied sector suffered a loss of 3.13 percent followed by pharma (0.26 percent).
Genex Infosys became the weekly turnover leader with shares of Tk 1.78 billion changing hands.
It was followed by Eastern Housing (Tk 1.77 billion), Aamra Networks (Tk 1.49 billion), Bangladesh Shipping Corporation (Tk 1.34 billion) and Unique Hotel & Resorts (Tk 1.10 billion).
Gemini Sea Food was the week's top gainer, showing a 35.33 percent rise while Unilever Consumer Care was the top loser, losing 36 percent.
Meanwhile, the All-Share Price Index of the CSE was lower by 16 points during the time to close at 18,304 points on Thursday.
The CSE's Selective Categories Index (CSCX) lost 11 points to close the week at 10,973.
Of the 228 issues traded, 42 declined, 52 advanced and 134 remained unchanged on the CSE.
The port city's bourse traded 9.37 million shares and mutual fund units with turnover value of Tk 39.60 crore.
