Dhaka stocks extend rally

Dhaka stocks extended their upward momentum last week, buoyed by growing investor participation, which also boosted turnover.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surged 64.44 points, or 1.27 percent, to close the week at 5,132.48.

The DS30, which tracks blue-chip stocks, advanced 1.47 percent to 1,936.66, while the DSES, representing Shariah-compliant companies, gained 1.71 percent to 1,119.80, according to DSE data.

The indices' rally was reflected in last week's turnover, which stood at Tk 3,408.1 crore, up from Tk 2,544.85 crore the previous week.

On a daily basis, average turnover climbed to Tk 681.62 crore last week, up from Tk 636 crore in the earlier week.

Investors appeared to favour banks, which accounted for 13.56 percent of average daily turnover, while pharmaceuticals and textiles followed with 12.60 percent and 11.03 percent, respectively.

Sector-wise, paper and printing stocks led the charge with a gain of 6.27 percent. Financial institutions, jute, and a few other sectors also posted healthy returns.

Market breadth remained positive, as 290 scrips advanced, 24 declined, and 80 remained unchanged.

Among individual stocks, Rahim Textile Mills was the highest gainer with a 23.89 percent jump, while SEML Lecture Equity Management Fund suffered the worst drop, losing 11.54 percent over the week.