Dhaka stock market witnessed an increase in its indices in the past week after a decline in the previous week, as a section of optimistic investors chose to buy shares after the situation at the stock market regulatory commission stabilised.
Also, many chose to capitalise on the large scrips after the recent correction, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, gained 21.65 points or 0.42 per cent, closing the week at 5,225.61 points.
This comes after a loss of 43.34 points in the week before.
The Dhaka bourse operated on five trading sessions in the past week, among which the first session recorded loss, and the remaining four sessions witnessed gains in its indices.
Stocks in specific sectors, such as pharmaceuticals (Square Pharmaceuticals and Beximco Pharmaceuticals,) and Bank (Al-Arafah Islami Bank, and BRAC Bank) pulled the market most, by 14.9 points.
Market operators said that after the recent chaotic situation regarding the Bangladesh Securities and Exchange Commission over forcefully retiring one of its employees impacting the investors negatively, the news of the commission sitting on a discussion with its employees helped.
The officials went on a strike the week before the past week, following forced retirement of an executive director, Saifur Rahman.
Law enforcement personnel were stationed at the BSEC headquarters to maintain law and order.
A weekly commentary by EBL Securities noted that market recovery extended in the subsequent sessions due to investors鈥� continued buying activity in sector-specific and large scrips by capitalising on the corrections.
鈥業nvestor confidence was reinstated as the regulatory environment stabilized, while optimistic investors sought to take positions in certain stocks with short-term gain potential,鈥� it added.
The average daily turnover on the DSE also increased to Tk 390.93 crore last week, from Tk 362.70 crore in the previous week.
Out of 394 traded issues, 176 saw gains, 184 declined, and 34 remained unchanged.
The DS30 index, which tracks blue-chip stocks, went up by 11.88 points or 0.63 per cent, closing at 1,901.56 points.
The DSE Shariah index also rose by 4.39 points or 0.38 per cent, ending the week at 1,165.28 points.
Orion Infusion topped the turnover chart with an average daily turnover of Tk 23.93 crore.
Other leading turnover stocks included Beach Hatchery, Taufika Foods and Lovello Ice-cream, Alif Industries, Khan Brothers PP Woven Bag Industries, Linde Bangladesh, Hakkani Pulp & Paper Mills, Square Pharmaceuticals, Robi Axiata, and Shinepukur Ceramics.
