Dhaka stocks extend rally

Business Report :

Dhaka stocks extended their upward momentum last week, buoyed by growing investor participation, which also boosted turnover.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surged 64.44 points, or 1.27 percent, to close the week at 5,132.48.

The DS30, which tracks blue-chip stocks, advanced 1.47 percent to 1,936.66, while the DSES, representing Shariah-compliant companies, gained 1.71 percent to 1,119.80, according to DSE data.

The indices’ rally was reflected in last week’s turnover, which stood at Tk 3,408.1 crore, up from Tk 2,544.85 crore the previous week.

On a daily basis, average turnover climbed to Tk 681.62 crore last week, up from Tk 636 crore in the earlier week.

Investors appeared to favor banks, which accounted for 13.56 percent of average daily turnover, while pharmaceuticals and textiles followed with 12.60 percent and 11.03 percent, respectively.