Dhaka stocks closed the week on a undeniable level to, driven by the approval of a Tk3,000-crore mortgage for the Funding Company of Bangladesh (ICB) aimed towards stabilising the capital market.
The mortgage is expected to present a take to ICB’s investment ability and allow it to repay excessive-tag deposits, contributing to its sure performance. Nonetheless, despite these good points, other indices on the principle board skilled declines.
On the stop of the week, the Dhaka Stock Trade’s high index, DSEX, elevated by 4 choices to five,197. Within the period in-between, the blue-chip index, DS30, dropped by 4 choices to 1,912, and the Shariah-compliant stocks index, DSES, fell by 3 choices to 1,164. Conversely, the SME Index rose by 4 choices to 1,096.
The weekly average turnover elevated by 16.53% to Tk444 crore compared to the previous week, with the complete turnover standing at Tk2,222 crore, up from Tk1,907 crore.
Nonetheless, market capitalisation reduced by 0.10%, falling to Tk663,705 crore from Tk664,356 crore. Of the complete scrips traded, 166 superior, 178 declined, 40 remained unchanged, and 29 were now not traded.
Among person stocks, Dragon Sweater and Spinning led the weekly gainers with a 38.55% develop to Tk11.50, adopted by Miracle Industries with a 28.41% upward thrust to Tk22.60, The Dacca Dyeing & Manufacturing at 16.96%, Desh Dresses at 16.38%, and ML Dyeing Limited at 13.58%.
On the alternative hand, Emerald Oil Industries topped the losers’ checklist, declining by 17.83% to Tk25.80, adopted by New Line Clothings at 15.46% and Bangladesh Industrial Finance Co Ltd at 14.29%.
In its weekly market commentary, EBL Securities eminent that the benchmark index managed to forestall in sure territory this week. The revision of the hobby rate on the Tk3,000-crore sovereign-guaranteed mortgage for ICB helped shift investor sentiment a miniature bit towards positivity, increasing opportunities for reduce value hunters to steady non permanent good points. Nonetheless, ongoing political and macroeconomic instability endured to weigh on the market.
The market remained volatile at some level of the week, with merchants and sellers actively collaborating and vying for defend watch over of market momentum. Even when merchants sooner or later pushed the benchmark index into good points, selling stress persevered in every single place in the buying and selling ground as many merchants diminished their fairness publicity due to lingering concerns over political and economic uncertainty. Additionally, files of critical fines for alternate irregularities further dampened sentiment, main to elevated selling stress at some level of the final buying and selling session.
Sector-wise, the banking sector accounted for the top market project at 14.0%, adopted by the pharmaceutical sector at 13.7% and the textile sector at 11.6%. Total sectoral performance used to be blended, with the paper sector rising because the terminate gainer, rising by 4.9%, whereas the jute sector used to be the most enthralling loser, declining by 2.7%.
