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Stocks show strong buying for a second straight week

Published : 20 Nov 2021 10:03 PM | Updated : 23 Nov 2021 12:49 PM

Stocks extended the winning streak for second consecutive weeks as investors injected fresh funds on banking securities amid positive expectations.

Market analysts said the country’s capital market witnessed an upward trend as most of the investors showed their buying appetite for major sector securities which pushed the market up.

They said investors took their position for lucrative price levels of shares especially banking stocks as prices of most of the banking shares are still at a lucrative level.

Besides, most of the banks may declare their dividend ahead of the year-end added strength to the market momentum, they added.

Experts said investors, especially institutional investors, have invested more funds into the market, expecting the market would rise further.

Meanwhile, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 95.89 points or 1.37 percent to close the week at 7,091.

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The DSEX added more than 185 points in the past two consecutive weeks.

The DS30 index, comprising blue chips, rose by 13.98 points to settle at 2,695 and the DSE Shariah Index (DSES) increased 2.75 points to close at 1,480.

The market capitalization of the DSE also increased by 0.83 percent to Tk 5,610 billion on Thursday over the previous week.

The total turnover stood at Tk 69.92 billion on the DSE in the last week against Tk 58.98 billion in the previous week.

The daily average turnover increased by 18.50 percent to Tk 13.98 billion on the DSE over the previous week's average of Tk 11.79 billion.

However, losers took a lead over the gainers, as out of 378 issues traded, 191 closed lower, 173 higher and 16 remained unchanged on the DSE trading floor.

Beximco topped the turnover chart with shares worth Tk 7.64 billion changing hands.

It was followed by IFIC Bank (Tk 4.41 billion), BRAC Bank (Tk 2.93 billion), Orion Pharma (Tk 2.45 billion) and NRB Commercial Bank (Tk 2.24 billion).

The newly listed Sena Kalyan Insurance was the top gainer, posting a 60 percent gain while National Feed Mills was the worst loser, shedding 19.33 percent.

On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) also saw rapid growth with its selective category index (CSCX) gaining 142 points in the last week to close at 12,459 points.

The All-Share Price Index (CASPI) of the CSE was higher by 226 points to close at 20,723 points.

Of the 336 issues traded, 146 advanced, 176 declined and 14 remained unchanged on the CSE floor.

The port city's bourse traded about 8 crore shares and mutual fund units with a turnover value of Tk 252 crore during the time.

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