Business, Back Page

Stocks gain for fourth straight week


Published : 22 Jan 2022 10:04 PM | Updated : 23 Jan 2022 03:30 PM

Stocks witnessed a rapid growth and expanded the gaining streak for the fourth straight week as investors continued to invest on major sector shares despite the rising Covid-19 cases.

DSEX, the key index of Dhaka Stock Exchange (DSE) went up by 403 points in the past four consecutive weeks to stand at 7,105 on Thursday.

In the last week, it increased by 88.46 points.

Market analysts said the country's capital market witnessed a solid start in the new calendar year 2022 as investors continued pouring their funds in large-cap stocks.

The capital market saw sustained growth last year in terms of scale and value, coasting on the robust economic recovery, they said.

Now, more progress can be expected in the capital market with the overall modern financial ecosystem, they mentioned.

Favourable macroeconomic data also encouraged investors to put fresh funds on major sector stocks like financial institutions, banking, telecom, power and food sector stocks, pushing the index higher, they said.

The stocks witnessed a rapid growth as many institutional investors injected fresh funds into selective large-cap stocks, they mentioned.

Experts said stocks extended the rally as the buoyant investors, beating the Covid-19 worries, continued to pour their funds in large-cap stocks.

The DS30 index, comprising blue chips, increased by 19.08 points to close at 2,636 and the DSE Shariah Index (DSES) rose by 6.69 points to end at 1,508.

The week's total turnover stood at Tk 82.43 billion on the DSE as against Tk 78.32 billion the previous week.

Market capitalisation of the DSE also went up by 0.04 percent to Tk 5,652 billion on Thursday from Tk 5,649 billion in the week before.

Of the 386 issues traded on the DSE floor, 224 issues advanced, 139 declined and 23 remained unchanged.

Beximco topped the turnover list with shares worth Tk 6.96 billion changing hands.

It was followed by Bangladesh Shipping Corporation (Tk 3.87 billion), Fortune Shoes (Tk 3.70 billion), Saif Powertec (Tk 3.16 billion), and GPH Ispat (Tk 2.30 billion).

On the other hand, the port city bourse, the Chattogram Stock Exchange (CSE) also saw a rapid growth with its selective category index (CSCX) gaining 162 points in the last week to close at 12,504 points.

The All-Share Price Index (CASPI) of the CSE was higher by 272 points to close at 20,817 points.

Of the 350 issues traded, 201 advanced, 123 declined and 26 remained unchanged on the CSE floor.

The port city's bourse traded 6.58 crore shares and mutual fund units with turnover value of Tk 230 crore during the last week.

Related Topics