DSEX rallies on textile, banking stock gains

Infographic: TBS

The benchmark index DSEX of the Dhaka Stock Exchange (DSE) posted a notable gain last week, buoyed by strong performance in textile and banking stocks.

During the week, the DSEX advanced by 51 points or 0.95% to close at 5,443, while the blue-chip index DS30 rose by 24 points or 1.18%, settling at 2,114.

Among the traded securities, 140 advanced, 222 declined, and 31 remained unchanged.

Although the market saw positive momentum, investor participation dipped slightly, with the average daily turnover falling by 2.4% to Tk838 crore. However, the week concluded on a high note, recording the highest single-day turnover of the year in the final session.

Following the index gain, the market capitalisation increased by 0.60%, reaching Tk7.12 lakh crore.

BRAC EPL Stock Brokerage, in its weekly market review, stated that the market performed across five sessions last week. The week began negatively on Sunday and remained negative throughout Monday and Tuesday, then turned positive on Wednesday and ended the week positively on Thursday.

Financial sectors posted mixed performance last week. The banking sector booked the highest gain of 2.52% followed by general insurance by 1.82%. Mutual Fund experienced the highest loss of 5.61% followed by non-bank financial institution by 2.46% and life insurance by 1.62%, the report added.

EBL Securities said in the weekly market report, the benchmark index of the capital bourse extended its bullish momentum this week as investors' heightened optimism, driven by the ongoing quarterly earnings declaration season and portfolio rebalancing strategies, fueled robust buying interest in the banking sector and selective blue-chip stocks. 

Despite taking a three-session breather at the beginning of last week as investors preferred profit-taking, the bullish enthusiasm sparked again across the trading floor to extend the bullish tailwinds, with renewed buying interest also observed in textile scrips due to growing optimism over potential progress in resolving US tariff-related issues.

Investors were mostly active in the banking sector, which contributed 29.7% to the DSE's total turnover, followed by the pharmaceutical sector and the textile sector. 

City Bank was the top-traded stock with contributing 5.29% to the DSE total turnover, which was followed by BRAC Bank and Bangladesh Shipping Corporation.

Among the sectors, textile was the biggest gainer as investors got a return of 4.1%, followed by bank, general insurance and cement.

Rahima Food led the gainers' list as its share price jumped by 21.2%, which was followed by Southeast Bank with 20.5% and Karnaphuli Insurance with 16.7%.

On the other end, Midland Bank was the top loser last week, dropping 20.6%, which was followed by SEML Lecture Mutual Fund and Singer Bangladesh.