The closing week ended with the price index fall on the Dhaka Stock Exchange (DSE). Transactions in terms of taka also fell in the DSE. However, the average daily trading volume on DSE has increased. The average transaction in DSE has been increased by 16.28 percent last week. Twice as many firms are listed as price-decreasing as there are twice as many listed as price-rising. As a result, the market capitalization increased.
During the week, shares and units of 91 companies participating in trading on the DSE gained profit. Where as, the price of 40 companies have decreased. And the price of 237 remains unchanged.
Meanwhile, investors’ interest and pressure to buy shares was high in the shares of the IT sector. Genex Infosys Ltd., Amara Networks Ltd. and ADN Telecom Ltd. are the top companies in terms of transactions. Genex, which is in the third position of the top ten, has a turnover of Tk 34 crore 49 lakh. Last week, a total of 78 lakh 62 thousand 33 shares of the company were traded at 74 crore 26 lakh 69 thousand taka, which is 4.53% of the total transaction.
The other two companies Amara Networks and ADN have transacted Tk 17.23 crore and Tk 16.84 crore. In addition, BDCom 9 crore 98 lakhs and software company Intake has transacted 4 crore 45 lakh taka.
Market analysis showed that despite the decline in indices on the third working day of the week, the investor interest and buying pressure remained high in IT sector stocks. As a result, the sector was at the peak of rate hikes. Shares of the IT sector rose by 3.5%, on the day before the last trading day. This trend continued on the last day as well. Also, Saif Powertech is on the third position in the block market list with shares traded worth Tk. 27 crore 79 lakh. In the last week; the top ten gainer in the Dhaka Stock Exchange (DSE) was the IT Company Intech Limited. The stock rose 30.66 percent to its highest price in the last week. During the week, the share traded a total of Tk. 7 crore 66 lakh 10 thousand. Which is an average of 1 crore 91 lakh 52 thousand taka per day.
Apart from the capital market, there are also indications of market growth in the IT and telecom sectors. In the meantime, Fiber@Home is going to get Tk. 193 crore loan assistance from the World Bank for a period of 15 years. Abbas Farooq, Chief of Government and Regulatory Affairs Officer of Fiber@Home, said that broadband services will be expanded at the grassroots level with this syndicated loan. According to sources, the World Bank through Bangladesh Bank has Lankan Alliance Finance as the mandated lead arranger for this loan at the lowest interest rate as part of ‘Investment Promotion’. There are also Midland Bank, Lanka Bangla Finance, IDLC Finance, Eastern Bank and UCB.