Dhaka stocks hit 9-month high: DSEX surged 51.38 points to close the week at 5,443.42

Business Report :

Dhaka stocks extended their upward trend last week, reaching a nine-month high amid increased investor participation.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surged 51.38 points, or 0.95 percent, to close the week at 5,443.42, its highest level since October 9 last year, when it stood at 5,422.06.

Market movement during the week was driven by positive changes in the market capitalization of banking, pharmaceuticals and chemicals, and textile stocks.

However, food and allied, fuel and power, and engineering sectors witnessed declines in market capitalization, according to a weekly market review by Shana Securities.

The DS30, which tracks blue-chip stocks, advanced 1.18 percent to 2,114.35, while the DSES, which comprises Shariah-compliant firms, declined 0.18 percent to 1,170.61, according to DSE data.

Turnover, a key indicator of investor activity, totalled Tk 4,194.31 crore for the week, slightly down from Tk 4,297.23 crore of the previous week.