Dhaka stocks witnessed a marginal gain in the past week, advancing for the fourth consecutive week, as investors were active on both sides of the trading fence, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, increased by 9.22 points, or 0.17 per cent, in the past week to end at 5,506.78 points, after gaining 142.15 points in the previous week.
Market operators said that investors opted for a cautious approach and were closely monitoring the market, as there was a lack of any clear indications of a sustained upward trend on the market.
The total turnover of the Dhaka bourse increased in the past week.
The total turnover on the DSE increased by 44.45 per cent in the past week to reach Tk聽4,447.95 crore compared with that of Tk聽2,463.30 in the previous week.
Market operators said that the recent upward trend of the market was mainly due to most of the stocks prices hitting lowest points because of the recent market corrections.
Buyers thought of this as an opportunity to make profits from the low-priced shares and inject fresh funds into the market, they said.
Prior to the past four weeks, the market witnessed a prolonged bearish vibe as investors were concerned with the new budget measures related to the capital market and increasing economic concerns, including continued decline in the country鈥檚 foreign exchange reserves, market operators said.
Of the 396 stocks traded in the past week, 220 went up, 154 went down and 22 stayed the same.
Investors were mostly active in pharmaceutical scrips, followed by textile and food shares.
EBL Securities in its weekly market commentary said, 鈥楾he benchmark index of the capital bourse failed to hold onto the revival spirit despite showing buy dominance in the first three sessions of the week as the market pulse turned back to the correction mode since risk-averse investors preferred to remain watchful of the market鈥檚 trend following a sustained upward trend over consecutive sessions.鈥�
The DSE Shariah index decreased by 1.17 points, or 0.10 per cent, to close at 1,207.53 points in the past week.
The DS30 index lost 8.98 points, or 0.46 per cent, to finish at 1,942.36 points.
Sea Pearl Beach Resort & Spa Jamuna Oil topped the average weekly turnover chart with shares worth Tk聽35.74 crore daily changing hands.
Beach Hatchery, Orion Pharma, Salvo Chemical Industry, Taufika Foods and Lovello Ice-cream, Asiatic Laboratories, Far East Knitting & Dyeing Industries, Rupali Life Insurance, Alif Industries and Aftab Automobiles were the other turnover leaders.
