Business Report :
The country’s capital market extended its gaining streak for three consecutive weeks, driven by investor interest in stocks with favorable earnings for the recently ended quarter and the recent strong regulatory moves.
DSEX, the broad index of the Dhaka Stock Exchange (DSE), gained 39 points, or 0.73 percent, to settle at 5,355 points. In parallel, the DS30 index, representing 30 major companies, climbed 20.87 points to close at 1,986.41 and the DSES index, which tracks Shariah-compliant stocks, also saw upward trend with 1.61 up at 1,189.52.
However, investors participation in the market declined by 8.5 percent to Taka 5,540 million as compared to Taka 6,058 million in the previous week. Investors were mostly active in Pharma sector (15.7 percent), followed by Bank sector (12.8 percent) and Textile sector (9.5 percent).
Market analysts opined that the regulatory efforts to rebound investors’ market sentiment and capital gain tax news boosted a section of investors’ confidence to some extent. The news that the Investment Corporation of Bangladesh (ICB) received a sovereign guarantee against Taka 30 billion loans sought from the Bangladesh Bank so that it can play a bigger role in the capital market, also boosted investors’ confidence.
EBL Securities said in its weekly market review that the market remained volatile throughout the week as both buyers and sellers remained active on both sides of the trading fence to grab the realm of market momentum.
The Chittagong Stock Exchange (CSE) also witnessed higher with the CSE All Share Price Index – CASPI -advancing 28.61 points to settle at 14880.22 and the Selective Categories Index – CSCX gaining 29.79 points to close at 9,062.55.