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Stocks extend weekly gains on blue-chip sales

Stocks extend weekly gains on blue-chip sales
Graph: Freepik
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Bangladesh’s equity market extended gains over the week as investors accumulated perceived undervalued blue-chip stocks, supported by stronger participation and improved sentiment linked to political clarity around the national election.

The market opened on a strong footing and sustained positive momentum for three consecutive sessions, before mild profit-taking emerged in the final session, which failed to reverse the broader upward trend.

The DSEX, the benchmark index of the Dhaka Stock Exchange, rose 80.4 points, or 1.6 per cent, to close the week at 5,234.

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Liquidity improved alongside the price gains, with average daily turnover increasing 11.2 per cent week-on-week to Tk 6,446 million, signalling stronger investor participation.

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Trading activity was led by the banking sector, which accounted for 18.6 per cent of the total turnover, followed by pharmaceuticals at 14.8 per cent and textiles at 9.7 per cent.

Most sectors delivered positive returns during the week, with engineering stocks posting the strongest gain at 5.7 per cent, followed by banks at 3.8 per cent and mutual funds at 3.4 per cent.

Losses were concentrated in insurance and telecom stocks, with general insurance declining 3.9 per cent, life insurance falling 2.0 per cent and telecom shedding 1.5 per cent.

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