DSE market cap rises Tk2,781cr despite falling key indices

The country’s stock market ended the week on a mixed note, with the Dhaka Stock Exchange (DSE) gaining more than Tk 2,700 crore in market capitalisation despite declines in its major indices.

The DSE’s total market capitalisation stood at Tk 7,07,914 crore at the close of the week, up Tk 2,781 crore from Tk 7,05,133 crore a week earlier. Market capitalisation has now risen by Tk 6,744 crore over the past two weeks.

Trading data showed a relatively balanced market, with shares and units of 188 listed companies advancing during the week, while 179 declined and 22 remained unchanged.

Despite the broader gain in market value, the DSE’s benchmark DSEX index fell 34.62 points, or 0.59 per cent, over the five-session week. The index had gained 91.28 points, or 1.57 per cent, in the previous week.

The DSES, which tracks Shariah-compliant companies, declined 14.53 points, or 1.22 per cent, after gaining 12.18 points, or 1.03 per cent, the previous week.

The blue-chip DSE-30 index also fell 25.37 points, or 1.14 per cent, reversing a 24.50-point, or 1.12 per cent, gain in the previous week.

Trading activity, however, picked up during the week. Average daily turnover rose to Tk1,181.84 crore from Tk 1,059.92 crore in the previous week, an increase of Tk131.92 crore, or 11.50 per cent.

Sharp Industries led the turnover chart, with its shares generating an average daily turnover of Tk 37.54 crore, accounting for 3.18 per cent of the market’s average daily trading value.

Malek Spinning ranked second, recording average daily turnover of Tk 26.86 crore, followed by Summit Alliance Port with around Tk25 crore.

The other companies among the week’s top 10 turnover leaders were Acme Pesticides, Dominage Steel Building, IPDC Finance, Saiham Textile, Far East Knitting, ACI Formulations and Beximco.