Business Desk :
Dhaka Stock Exchange (DSE) has managed to hold on to the positive territory in the past week amid quarterly earnings reports poured in the market.
During the week that ended on Thursday, the benchmark DSEX index recovered 62 points or 0.89 per cent to settle at 7,023 after declining around 83 points in past two weeks.
A modest rally in travel, insurance, engineering, textile, fuel, and financial institutions, and tannery stocks helped counter the early gloom seen in the past two weeks.
Among other sectors, food and allied (-2.3 per cent), ceramic (-2.1 per cent) and miscellaneous (-0.8 per cent) witnessed the most corrections.
The junior indices-Shariah-based index DSES was marginally up 13 points or 0.89 per cent at 1,504 while the blue-chip comprising the DS30 index also edged up 5 points or 0.2 per cent at 2,597.
“The indices observed a positive week as most companies have declared earnings growth which has rejuvenated investors’ confidence,” said the EBL Securities in a note.
Investors were focused on rebalancing their portfolios based on recent and upcoming earnings declarations throughout the week, it said.
During the week, investors’ participation advanced and average turnover stood at Tk 1,323 crore, an increase of almost 3 per cent over the previous week.
Of the total turnover, investors were mostly active in the miscellaneous sector that made up 13.3 per cent, followed by pharmaceuticals and chemicals 12.2 per cent and engineering 11.7 per cent.
The weekly index pullers included Square Pharmaceuticals, Orion Pharma, ACME Laboratories, Renata, Titas Gas, Summit Power and Green Delta Insurance.
The weekly index draggers included BATBC, Beximco, BBS, Islamic Bank, Confidence Cement and RAK Ceramics and Fareast Life Insurance. Newly listed Union Insurance was the week’s top gainer surging more than 60 per cent, followed by BD Thai Food and Beverage 59.66 per cent, Tamijuddin Textile Mills 41.39 per cent. The week’s worst losers included Queen South Textile Mills, Bangladesh Building Systems, Sunlife Insurance Company, Prime Insurance Company and National Polymer Industries.
