Stocks are gradually turning around despite the coronavirus pandemic as it rallied for 4th straight week with investors finding share prices lucrative at both the bourses (Dhaka and Chattogram) after the price correction.
Stocks have witnessed positive trend for the fourth straight week though the last four sessions of the week witnessed profit booking sell-offs.
Market analysts said the market is back to normal trading after a long time. They said some investors remained active in the market riding on optimism owing to gradual reopening of the economy and revival of some specific sectors' activity.
They hoped this will encourage investors to inject more funds in the capital market and the market will be better after Eid.
However, DSEX, the key index of the Dhaka Stock Exchange, went up by 7.55 points or 0.19 percent to finish the week at 4,069 points. The prime index of DSE increased by 105 points or 2.70 percent in the four consecutive weeks.
The total turnover of DSE increased to Tk 15.08 billion, from Tk 9.41 billion in the week before.The daily turnover averaged Tk 3.01 billion, up by 60 percent than the previous week's average of Tk 1.88 million.
Out of 358 issues traded at DSE, 79 ended higher, 100 closed lower and 179 remained unchanged.
IT sector was the best performer of the week, posting a gain of 1.52 percent, while financial institutions were the week's worst performer, slumping by 1 percent.
The market capitalisation of DSE rose to Tk 3,154 billion, fromTk 3,150 billionin the previous week.
BeximcoPharma dominated the turnover chart and became the top on the DSE floor with shares worthTk 805 million changing hands, followed by Square Pharma, Indo-Bangla Pharma, Bangladesh Submarine Cable and Grameenphone.
The port city bourse, Chittagong Stock Exchange (CSE), also saw positive trend during the past week with its selective category index (CSCX) gaining 18 points to close at 7,007 points.
On the other hand, the all-share price index of CSE (CASPI) was higher by almost 23 points during the week to close at 11,559 points.Of 272 issues traded at CSE, 64 increased, 66 declined and 142 remained unchanged.
