Stocks rise last week, turnover grows 35%

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) gained ground last week despite escalating tensions in the Middle East, buoyed by emerging political consensus over the upcoming national election.

Turnover value also surged sharply, reflecting increased investor participation throughout the week.

The DSEX rose by 45 points, or 0.96%, to close at 4,754, while the blue-chip DS30 index gained 19 points, or 1.13%, ending the week at 1,782. Of the issues traded, 194 advanced, 159 declined, and 42 remained unchanged.

The daily average turnover jumped by 35% to Tk 325 crore, indicating improving investor sentiment.

In its weekly market review, EBL Securities noted that the capital market passed a volatile week after reopening from the extended Eid holidays. The benchmark index managed to stay in the green for a second consecutive week, supported by partial easing of political uncertainty following greater clarity on the national election timeline. Regulatory moves to bring small-cap companies in line with minimum capital requirements also contributed to the improvement in sentiment.

The market opened the week on the back of investor interest in select blue-chip and low paid-up scrips that had seen significant corrections during the prolonged market downturn, the report added.

Although rising geopolitical tensions stemming from the escalating standoff between Iran and Israel weighed on investor confidence – triggering some selling pressure—buyers managed to outpace sellers, enabling the market to post a modest recovery, according to EBL Securities.

Investors were most active in the food sector, followed by pharmaceuticals and banking. Most sectors ended the week in positive territory, with the food sector emerging as the top gainer.

Central Insurance topped the list of weekly gainers, with its share price surging 35%, while Shyampur Sugar was the worst performer of the week.