Dhaka鈥檚 stock market saw a rise in its indices in the past week after a decline in the previous week, as some investors showed interest in specific sectors, encouraged by better-than-expected earnings reports from several companies.
The DSEX, the Dhaka Stock Exchange鈥檚 main index, gained 66.28 points or 1.30 per cent, closing the week at 5,179.18 points. This comes after a drop of 53.63 points in the week before.
All five trading sessions last week recorded gains in the indices.
Stocks in specific sectors, such as Eastern Bank, Islami Bank Bangladesh, Energypac Power Generation, and Prime Bank, played key roles in driving the market鈥檚 growth. These four stocks contributed a total of 13.2 points to the increase in the DSEX index.
Despite the market鈥檚 positive trend, concerns over inflationary pressure and the overall economic outlook continued to linger among investors.
A weekly commentary by EBL Securities noted that strong earnings disclosures from certain sector-specific stocks helped lift the market from its earlier weak momentum.
The commentary also mentioned that falling Treasury yields and easing inflation encouraged bargain hunters to invest in attractive stocks, hoping for a slight recovery from the prolonged bearish trend.
鈥楢dditionally, investor interest in stocks that follow the December closing cycle, including bank stocks, contributed to the positive market sentiment as investors anticipated corporate declarations,鈥� said the commentary.
The average daily turnover on the DSE rose to Tk 426.59 crore last week, up from Tk 338.98 crore in the previous week.
Out of 395 traded issues, 265 saw gains, 103 declined, and 27 remained unchanged.
The DS30 index, which tracks blue-chip stocks, went up by 9.05 points or 0.48 per cent, closing at 1,912.90 points.
The DSE Shariah index also rose by 13.82 points or 1.22 per cent, ending the week at 1,147.80 points.
Beach Hatchery topped the turnover chart with an average daily turnover of Tk 16.10 crore.
Other leading turnover stocks included City Bank, Midland Bank, Orion Infusion, Central Pharmaceuticals, Rupali Life Insurance, Agni Systems, Khulna Printing & Packaging, and Khan Brothers PP Woven Bag Industries.